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Poetry is the language of nonexchangeability,
the return of infinite hermeneutics, and the
return of the sensuous body of language. I'm
talking about poetry here as an excess of language,
a hidden resource which enables us to shift from
one paradigm to another.

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._,I I V

I J QI Q l \;A

The Uprising
on Poetry and Finance




Franco "Bifo" Berardi


2012 by Franco "Bifo" Berardi

The Uprising

All rights reserved. No parr of this book may be reproduced,

srored in a retrieval system, or transmitted by any means, electronic, mechanical, photocopying, recording, or otherwise,

On Poetry and Finance

without prior permission of the publisher.

Published by Semiorext(e)
2007 Wilshire Blvd., Suite 427, Los Angeles, CA 90057
Earlier versions of portions of this book were published in the
web-magazine e-jlux in spring 20 II.
Thanks to Roberr Dewhurst, John Eben, Marc Lowenthal and
Jason Smith.
Design: Hedi El Kholti
ISBN: 978-1-58435-112-2
Distributed by The M IT Press, Cambridge, Mass.
and London, England
Printed in the United Stares of America


109 8765432

series o 14


Int roduction

1. The European Coll apse


2. Languag e, Economy, and t he Body


3. The Genera l Intellect Is Looking fo r a Body


4. Poetry and Finance





These texts were written in 201 1, the first year of

the European uprising, when European society
entered into a deep crisis that seems to me much
more a crisis of social imagination than mere
economics. Economic dogma has taken hold of
the public discourse for three decades, and has
destroyed the critical power of political reason.
The collapse of the global economy has exposed
rhe dangers of econom ic dogmatism, b ur irs
ideology has already been incorporated into the
auromarisms of living society.
Political decision has been replaced by technolinguistic auromatisms embedded in the interconnected global machine, and social choices are
submitted to psychic automatisms embedded in
social discourse and in the social imaginary.
Bur the depth of the catastrophe represented by
rhe collapse is awakening hidden potencies of rhe
social brain. The financial collapse marks the
beginning of an insurrection whose first glimpses

-. -.,,...


were seen in London, Athens, and Rome in

December 2010, and which became massive in the
May-June acampada in Spain, in the four August
nights of rage in the English suburbs, and in the
wave of strikes and occupations in the US.
The European collapse is not simply the effect
of a crisis that is only economic and financialthis is a crisis of imagination about the future, as
well. The Maastricht rules have become unquestionable dogmas, algorithmic formulae and magical
spells guarded by the high priests of the European
Central Bank and promoted by stockbrokers
and advisors.
Financial power is based on the exploitation of
precarious, cognitive labor: the general intellect in
its present form of separation from the body.
The general intellect, in its present configuration,
is fragmented and dispossessed of self-perception
and self-consciousness. O nly the conscious mobilization of the erotic body of the general intellect,
only the poetic revitalization of language, will
open the way to the emergence of a new form of
social autonomy.
It's difficult for someone of my generation to break
free of the intellectual automatism of the dialectical
happy ending.

8 I The Upns1ng: On Poetry and Finanr:ce

Just as the Vienna Congress's restoration was

followed by the People's Spring in 1848, just as
fascism was followed by resistance and liberation,
so now the political instinct of my generation (the
'68 generation, the last modern generation, in a
sense) is expecting the restoration of democracy,
the return of social solidarity, and the reversal of
financial dictatorship.
T his expectation may be deceptive, and we
should be able to enhance the space of our historical
prefiguration, so as to become able to abandon the
conceptual framework of historical progress, and
to imagine the prospect of irreversibility. In the
sphere of the current bio-economic totalitarianism,
the incorporation of techno-linguistic automatisms produced by semio-capital has produced a
form that is not an external domination that acts
on the body, but a mutation of the social organism
itself. This is why historical dialectics no longer
work at the level of understanding the process
and the prospects: the prospect of irreversibility
is replacing the prospect of subversion, so we
have ro rethink the concept of autonomy from
this perspective.
"Irreversibility" is a taboo word in modern
political discourse, because it contradicts the principle of rational government of the flow of
events-which is the necessary condition of
rational government, and the primary contribution

ln!loduction I 9

of humanism to the theory and the practice of

modern politics. Machiavelli speaks of the Prince
as a male force who is able to subdue fortuna
(chance, the chaotic flow of events), the female
side of history.
What we are experiencing now, in the age of
infinite acceleration of the infosphere, is the
following: feminine fortuna can no longer be subjected and domesticated by the masculine force of
political reason, because fortuna is embodied in the
chaotic flows of the overcrowded infosphere and in
the chaotic flows of financial microtrading. The
disproportion between the arrival rate of new
information and the limited time available for
conscious processing generates hypercomplexity.
Therefore projects that propose to rationally
change the whole social field are out of the picture.
The horizon of our time is marked by the
Fukushima event. Compared to the noisy catastrophes of the earthquake and the tsunami, Tokyo's
silent apocalypse is more frightening and suggests a
new framework of social expectation for daily life on
the planet. The megalopolis is directly exposed to
the Fukushima fallout, but life is proceeding almost
normally. Only a few people have abandoned the
city. Most citizens have stayed there, buying mineral
water as they have always done, breathing with face
masks on their mouths as they have always done.
A few cases of air and water contamination are

10 I The On Pcetr> and Frnance

denounced. Concerns about food safety have

prompted US officials to halt the importation of
certain foods from Japan. Bur the Fukushima effect
does not imply a disruption of social life: poison has
become a normal feature of daily life, the second
nature we have to inhabit.
During the last few years disruptions have multiplied in the planetary landscape, but they have
not produced a change in the dominant paradigm,
a conscious movement of self-organization, or a
revolutionary upheaval.
The oil spill in the Gulf of Mexico has not led
to the eviction of BP, it has rather consolidated its
power, because BP was the only force which could
manage the disruption and hopefully bring it
under control.
The financial collapse of September 2008 did
not lead to a change in US economic politics.
Despite the hopes raised by Barack Obama's victory, the financial class did not relax its grip on
the economy.
In Europe, after the Greek crisis in 2010,
neoliberal ideology-although clearly the source of
the collapse-has not been dismissed. On the
contrary, the Greek disruption (and the following
Irish and Italian and Spanish and Portuguese
disruptions) has strengthened the rigor of monetarist policies and stressed the prospect of reducing
salaries and social spending.

ln!roductron I 11

At a systemic level, change is taking the form of

positive feedback.
In his work on cybernetics, Norbert Wiener
speaks of negative feedback in order to define the
output of a system when it acts to oppose changes
to the input of the system, with the result that the
changes are reduced and attenuated. If the overall
feedback of the system is negative, then the system
will tend to be stable. In the social field, for
instance, we can say that the system is exhibiting
negative feedback if protests and fights oblige the
industry to increase salaries and reduce exploitation
when social misery becomes too hard and too
In Wiener's parlance, a system exhibits positive
feedback when, on the contrary, it increases the
magnitude of a perturbation in response to the
perturbation itself. Obviously, unintended positive
feedback may be far from being "positive" in the
sense of desirable. We can also speak of selfreinforcing feedback.
My impression is this: in conditions of infoacceleration and hypercomplexity, as the conscious
and rational will becomes unable to check and to
adjust the trends, the trends themselves become
self-reinforcing up to the point of final collapse.
Look at the vicious circle: right-wing electoral
victories and dictatorships of ignorance. When
right-wing parties win, their first preoccupation

12 I The Upris;ng: On Poetry and F1nar.ce

is to impoverish public schooling and to prop up

media conformism. The result of the spread of
ignorance and conformism will be a new electoral
victory, and so on. This is why it is difficult not
to see the future of Europe as a dark blend of
techno-financial authoritarianism and aggressive
populist reaction.
Autonomy, in this condition, will be essentially
the ability to escape environments where the
positive feedback is switched on. How is it possible
to do that, when we know that the planetary
environment and global society are increasingly
subjected to this catastrophic trend?
How can we think of a process of subjectivation
when precarity is jeopardizing social solidarity
and when the social body is wired by technolinguistic automatisms which reduce its activity
to a repetition of embedded patterns of behavior?
With this book, I am trying to develop the
theoretical suggestions of Christian Marazzi, Paolo
Virno, and Maurizio Lazzarato in an unusual
direction. These thinkers have conceptualized the
relation between language and the economy, and
described the subsumption and the subjugation
of the biopolitical sphere of affection and language
to financial capitalism. I am looking for a way
to subvert this subjugation, and I try to d o that
from the unusual perspectives of poetry and

tntrccluction I 13

When the social body is wired by techno-linguistic
automatisms, it acts as a swarm: a collective organism
whose behavior is autom atically directed by
connective interfaces.
A mulritude is a plurality of conscious and
sensitive beings sharing no common intentionality,
and showing no common pattern of behavior. The
crowd shuffling in the city moves in countless
different directions with countless different morivations. Everybody goes their own way, and the
intersection of those displacemen ts makes a crowd.
Sometimes the crowd moves in a coordinated way:
people run together towards the station because
the train is soon expected to leave, people stop
together at traffic lights. Everybody moves following
his or her will, within the constraints of social
If we want to understand something more
about the present social subjectivity, the concept of
the multitude needs to be complemented with the
concepts of the network and swarm.
A network is a plurality of organic and artificial
beings, of humans and machines who perform
common acrions thanks to procedures that make
possible their interconnection and interoperation.
If you do not adapt to these procedures, if you
don't follow the technical rules of the game, you

14 I The Upnsing: On Poetry ar.cJ F1nance

are not playing the game. If you don't react to

certain stimuli in the programmed way, you don't
form part of the network. The behavior of persons
in a network is not aleatory, like the movements of
a crowd, because the network implies and predisposes pathways for the networker.
A swarm is a plurality of living beings whose
behavior follows (or seems to follow) rules embedded in their neural systems. Biologists call a swarm
a multitude of animals of similar size and bodily
orientation, moving together in the same direction
and performing actions in a coordinated way, like
bees building a hive or moving toward a plant
where they can find resources for making honey.
In conditions of social hypercomplexity, human
beings tend to act as a swarm. When the infosphere
is too dense and too fast for a conscious elaboration
of information, people tend to conform to shared
behavior. In a letter to John Seabrook, Bill Gates
wrote: "the digital revolution is all about facilitationcrearing tools to make things easy" (Seabrook,
52). In a broader sense, we may say that in the
digital age, power is all about making things easy.
In a hypercomplex environment that cannot be
properly understood and governed by the individual
mind, people will follow simplified pathways and
will use complexity-reducing interfaces.
This is why social behavior today seems to be
trapped into regular and inescapable patterns of

Introduction I 15

interaction. Techno-linguistic procedures, financial

obligations, social needs, and psycho-media invasion- all this capillaric machinery is framing the
fi eld of the possible, and incorporating common
cognitive patterns in the behavior of social actors.
So we may say that social life in the semiocapital sphere is becoming a swarm.
In a swarm it is not impossible to say "no." It's
irrelevant. You can express your refusal, your rebellion and your nonalignment, but this is not going
to change the direction of the swarm, nor is it
going to affect the way in which the swarm's brain
is elaborating information.
Automation of Language
The implication of language in the financial
economy is crucial in the contemporary process
of subjectivation.
In this book, I am trying to think about the
process of emancipating language and affects, and
I start from the concept of insolvency.
Insolvency is not only a refusal to pay the costs
of the economic crisis provoked by the financial
class, but it is also a rejection of the symbolic debt
embodied in the cultural and psychic normalization of daily life. Misery is based on the cultural
conformism of the nuclear family, on the secluded
privacy of individual existence. Privatization of

16 I The Upns1ng: On Poetry and F1nanr:-e

needs and affects has subjected social energies to

the chain of capitalist culture. The history of
capitalist domination cannot be dissociated from
the production and privatization of need- i.e.,
the creation of cultural and psychic habits of
dependence. Social insolvency means independence
from the list of priorities that capitalist conformism
has imposed on society.
From a linguistic and affective point of view,
insolvency is the line of escape from the reduction
of language to exchange.
The connective sign recombines automatically
in the universal language machine: the digitalfinancial machine that codifies existential flows.
The word is drawn into this process of automation,
so we find it frozen and abstract in the disempathetic life of a society that has become incapable of
solidari ty and autonomy. T he automation of the
word takes place on two levels.
The first level concerns monetarization and
subjection to the financial cycle: signs fall under
the domination of finance when the financial
function (the accumulation of value through
semiotic circulat ion) cancels the instinctual side
of enunciation, so that what is enunciated m ay
be compatible with digital-financial formats.
T he production of meaning and of value takes
the form of parthenogenesis: signs produce signs
without any longer passing through the flesh.

IntroduCtiOn I 17

Monetary value produces more monetary value

without being first realized through the material
production of goods.
A second level is indexicalization. In his paper
titled "Quand les mots valent de !'or," Frederic
Kaplan speaks of the process of language's indexicalization in the framework of Internet search
engines. Two algorithms define the reduction of
linguistic meaning to economic value via a Google
search: the first finds the various occurrences of a
word, the second links words with monetary value.
The subsumption of language by the semiocapitalist cycle of production effectively freezes the
affective potencies of language.
The history of this subsumption passes through
the twentieth century, and poetry predicted and
prefigurated the separation of language from the
affective sphere. Ever since Rimbaud called for a
dereglement de to us les sens, poets have experimented
with the forgetting of the referent and with the
autonomous evocation of the signifier.
The experience of French and Russian symbolism
broke the referential-denotative link between the
word and the world. At the same time, symbolist
poets enhanced the connotational potency of language to the point of explosion and hyperinclusion.
Words became polysemous evocations for other
words, and thus became epiphanic. This magic of
postreferential language anticipated the general

18 I The Uprisng: On Poetry and F:nance

process of dereferentialization that occurred when

the economy became a semio-economy.
The financialization of the capitalist economy
implies a growing abstraction of work from its useful
function, and of communication from its bodily
dimension. As symbolism experimented with the
separation of the linguistic signifier from its denotational and referential function, so financial
capitalism, after internalizing linguistic potencies,
has separated the monetary signifier from its function of denotation and reference to physical goods.
Financial signs have led to a parthenogenesis of
value, creating money through money without the
generative intervention of physical matter and
muscular work. Financial parthenogenesis sucks
down and dries up every social and linguistic
potency, dissolving the products of human activity,
especially of collective semiotic activity.
The word is no longer a factor in the conjunction
of talking affective bodies, but a connector of signifying functions rranscodified by the economy. Once
deprived of its conjunctive ability, the word becomes
a recombinant function, a discreet (versus continuous)
and formalized (versus instinctual) operator.
In 1977 the American anthropologist Rose
Khon Goldsen, in The Show and Tell Machine,
wrote the following words: "We are breeding a new
generation of human beings who will learn more
words from a machine than from their mothers."

lntroouction I 19

That generation is here. The connective generation entering the social scene today fully suffers the
pathogenic and disempathetic effects of the
automation of the word.
Poetry and the Deautomation of Language
We have too many things and not enough forms.
-Gustave Flauberc, Prifoce aIa vie d'ecrivain
Fonn fascinates when one no longer has the force to
understand force from within itself
-Jacques Derrida, Writing and Difference

The voice and poetry are two strategies for reactivation.

Once poetry foresaw the abandonment of
referentialicy and the automation of language;
now poetry may scare the process of reactivating
the emotional body, and therefore of reactivating
social solidarity, starting from the reactivation of
the desiring force of enunciation.
For Giorgio Agamben, in Language and Death,
the voice is the point of conjunction between
meaning and flesh. The voice is the bodily singularity of the signifying process, and cannot be
reduced to the operational function of language,
notwithstanding the research in protocols and
procedures for vocal recognition.

20 I The Upris'ng: On Poetry and FJnance

Poetry is the voice of language, in this sense: it

is the reemergence of the deictic function (from
deixis, self-indication) of enunciation. Poetry is the
here and now of the voice, of the body, and of the
word, sensously giving birch to meaning.
While the functionaliry of the operational
word implies a reduction of the ace of enunciation co connective recombinabilicy, poetry is the
excess of sensuousness exploding into the circuitry
of social communication and opening again the
dynamic of the infinite game of interpretation:
In the incrodution co the first volume of his
seminal book Du Sens, Algirdas Julien Greimas
speaks of interpretation as an infinite slippage of
the transition from signifier to signified.
This infinite slippage (or slide, or drift) is based
on the intimate ambiguity of the emotional side of
language {language as excess movement) .
We have co stare a process of deautomating the
word, and a process of reactivating sensuousness
(singularity of enunciation, the voice) in the sphere
of social communication.
Desire is monstruous, it is cruel, and noncompliance and nonrecombinabilicy are at the inmost
nature of singularity. Singularity cannot be compliant
with a finite order of interpretation, but it can be
compassionate with the infinite ambiguity of
meaning as sensuous understanding. Compassion

IntroductiOn I 21

is sensibility open to the perception of uncountable

sensuous beings, the condition for an autonomous
becoming-other, beyond the financial freeze,
beyond the techno-lingu istic conformism that is
making social life a desert of meaning.
Poetic language is the insolvency in the field of
enunciation: it refuses the exaction of a semiotic
debt. Deixis (oei~t~) acts against the reduction of
language to indexicalization and abstract individuation, and the voice acts against the recombinant
desensualization of language.
Poetic language is the occupation of the space of
communication by words which escape the order
of exchangeability: the road of excess, says W illiam
Blake, leads to the palace of wisdom. And wisdom
is the space of singularity, bodily signification, the
creation of sensuous meaning.

22 1 Tne Upnsin::r On Postr; and F1nance




Finance is the most abstract level of economic

symbolization. It is the culmination of a process of
progressive abstraction that starred with capitalist
industrialization. Marx speaks of abstract labor
in the sense of an increased distancing of human
activity from its con crete usefuln ess. In h is
words, capitalism is the application of human
skills as a means to obtain a more abstract goal: the
accumulation of value. Nevertheless, in the age of
industrialization analyzed by Marx, the production
of useful goods was still a necessary step in the
process of valorization itself. In order to produce
abstract value, the industrial capitalist was obliged
to produce useful things. This is no longer the case
today, in the sphere of semio-capital. In the world
of financial capitalism, accumulation no longer
passes through the production of goods, but goes


straight to its monetary goal, extracting value from

the pure circulation of money, from the virrualization
of life and intelligence.
' Financialization and the virtualization of
human communication are obviously intertwined:
thanks to the digitalization of exchanges, finance
has turned into a social virus that is spreading
everywhere, transforming things into symbols. The
symbolic spiral of financialization is sucking down
and swallowing up the world of physical things,
of concrete skills and knowledge. \ The concrete
wealth of Europeans is vanishing into a black hole
of pure financial destruction. Nothing is created
from this destruction, while the financial class is
expropriating the outcome of the general labor
force and of the general intellect.
Jean Baudrillard likened the ever growing US
national debt to a missile orbiting above the earthly
An electronic billboard in Times Square displays
the American public debt, an astronomic figure
of some thousands of billions of dollars which
increases at a rate of $20,000 a second. [.. .] In
fact, the debt will never be paid. No debt will
ever be paid. The final counts will never take
place. [ ... ] The United States is already virtually
unable to pay, but this will have no consequence
whatsoever. There will be no judgment day for

24 I TI1e Uprising: On Poeir)' and Fina11ce

this virtual bankruptcy. [ ... ] When one looks at

the billboard on Broadway, with its flying figures,
one has the impression that the debt takes off to
reach the stratosphere. This is simply the figure in
light years of a galaxy that vanishes in the cosmos.
The speed of liberation of the debt is just like one
of earth's satellites. That's exactly what it is: the
debt circulates on its own orbit, with its own
trajectory made up of capital, which, from now
on, is free of any economic contingency and
moves about in a parallel universe (the acceleration
of capital has exonerated money of its involvements
with the everyday universe of production, value
and utility). It is not even an orbital universe: it is
rather ex-orbital, ex-centered, ex-centric, with
only a very faint probability that, one day, it
might rejoin ours. (Baudrillard 1996)
!In the last few years, contrary to Baudrillard's
prediction, the probability that he considered very
faint has become true. Debt has come back down
to Earth, and it is now acting as a condition for the
final predatory abstraction: life turned into time
for repaying a metaphysical debt. Life, intelligence,
joy, breathing- humanity is going to be sacrificed
in order to pay the metaphysical debt. 1
In the last decades of the century that trusted
in the future, marked by the political hegemony
of neoliberal dogma, the invisible hand has been

The European Collapse I 25

embedded in the global technology of the linguistic

machine, and language, the essential environment
of mankind, has been turned into a wired, automated system.
The essential processes of social communication
and production have escaped the capacities of
human knowledge and control. Irreversible trends
of devastation, pollution, and impoverishment are
marking the horizon of our time.
Slavoj Ziiek reminds us that no end of the
world is in sight, only the possible end of capitalism
that we are unable to imagine. Ziiek may be
right, but we should consider the eventuality
that capitalism has so deeply pervaded every
physical and imaginary dimension of the world
that its collapse may lead to the end of civilization itself.
The financialization of the economy is essen~
tially to be seen as a process of the subsumption of
the processes of communication and production
by the linguistic machine. The economy has
been invaded by immaterial semiotic flows and
transformed into a process of linguistic exchange;
simultaneously, language has been captured by
the digital-financial machine, and transformed
into a recombination of connective operational
segments. The techno-linguistic machine that is
the financial web is acting as a living organism, and
its mission is drying up the world.

26 I Tne Upris'ng: On Poetry anci Finance

1 want to understand the process of dissolution

that is underway from the unusual point of view of
the relationship between poetry and finance. ~at
has poetry to do with finance, and finance wuh
poetry? Nothing, of course. Investors, stockholders,
and bankers are usually too busy, so they don't
waste their time with poetry. Poets are too poor to
invest money in the stock market. There are exceptions, like T. 5. Eliot, who was employed at the
Lloyds Bank while writing The Waste Land, but
this is not my point.
My point here concerns the deterritori~izatio~
effect which has separated words from thetr semiotic referents and money from economic goods.
Let's consider the effect of dereferentialization
which is the main thread of twentieth century
poetic research (beginning with the symbolist
dereglement des sens et des mots), and we'll ~nd
some similarities with the economic reconfiguranon
that occurred during the last three decades of the
century, from the neoliberal deregulation to the
monetarist abstract reregulation.
Because of the technological revolution produced by information technology, the relation
between time and value has been deregulated.
Simultaneously, the relation between the sign and
the thing has blurred, as the ontological guarantee
of meaning based on the referential status of the
signifier has broken apart.

Tt1e European Collapse I 27

"Deregulation" is a word that was first proposed

by the poet Arthur R.imbaud, and later recycled as
a metaphor by neoliberal ideologues. Dbi!glement
des sens et des mots is the spiritual skyline of late
modern poetry. Words and senses wanted to escape
the frame of representation, of denotation, and of
naturalistic reproduction. So the word and the
senses started to invent a new world of their own,
rather than reflect or reproduce existing reality.
Neoliberal ideology starts from the same
emphasis on deregulation and the cult of freedom.
The similarity between poetical and financial
deregulation is misleading, of course, but powerful.
Neoliberal ideology does not intend deregulati-o n as the free flight of social molecules out of any
kind of rule, but it aims to liberate social activity
from any regulation except the regulation of
money, and from the rule of competition, which is
the most ferocious.
Here is my point. While liberating it from the
bonds of political government, financial capitalism
is subjecting social behavior to techno-linguistic
Governance is a keyword in the process of the
financialization of the world.
IPure functionality without meaning. Automation
of thought and will.
The embedding of abstract connections in the
relation between living organisms. f

28 I Tt1e Upns1ng: On Poetry and F1nance

The technical subjection of choices to the

logic of concatenation .
. .
IT he recombi nation of companble (companbllized) fragments (fractals). 1
1 T he inscription of a digital rhythm into the

social body.
In neoliberal parlance, deregulation means
liberation fro m the constraints generate~ ~y con.
w"111 , but simultaneo usly subm1ss1on to
techno-linguistic auto matisms.
Mathematical Ferocity and Symbolic Insolvency
Like the impressionist painters, the symbolist poets
also said: "I do not want to show the thing, I want
to show the impression."
The symbolists invite the reader to forget about
the referent. The symbolist word is not intended to
represent the thing, but to evoke a world from the
The symbolist word is intended to act as an
epiphany, an apparition from nothing. I s~y .the
rose, and the rose is there, not because 1t IS a
represented referent, but because it is the effect ~f
an act of my voice. It is the effect of a pragmanc
displacement of expectations.
In symbolist poetry meaning does not come
fro m the rep resentation of preexisting reality and
from a correspondence with the referent, but

TI1e European Co~ lacse I 29

from the evocative force of sound, and voice, and

. T~e dereferentialization of language-the emanCipation of the linguistic sign from the referentthat was the operation of symbolism, and that was
t~e hallmark of poetic and artistic experimentation language in the twentieth century, has somethmg to do with a transformation in the relation
between the economy and monetary exchange that
occured in the last part of the century.
In 1
Ri,~hard Nixon did something that can


be considered dereferentialization" in the realm of

monetary economy. Breaking the Bretton Woods
agreements, the American president said that the
~oJlar would have no reference to reality, and that
Its value would henceforth be decided by an act of
language, not by correspondence to a standard or
to an economic referent.
Nixon's decision was the starting point of th
financialization of the economy, based on th:
emancipation of the financial dynamic from any conventional standard and from any economic reality.
We may assert that neoliberal dictatorship
~egan when the Chicago Boys decreed that money
mvented reality, when monetary evaluation fored~sed the referent. Forget about the referent, money
U:zlf create the world-this is the arrogant declaration, of the omnipotence of economJc power,
which founded neoliberal monetarism.

30 1 The Upns ng: On Pee try and F1nan:;e

As the economy ceases to deal with the production of things, and instead begins to evoke the world
from the circulation of money, the hypertrophic
rowth of the debt becomes inevitable.
g Neoliberal ideology pretends to be a liberating
force that emancipates capital from state regu~a
tion, but it in fact submits production and social
life to the most ferocious regulation, the mathematization of language.
Systematic impoverishment is imposed o~ social
life by the logic of debt repayment. ~at IS d~bt;
actually? Is it an inescapable, metaphysiCal necessity.
No. Debt is an act of language, a promise. The
transformation of debt into an absolute necessity
is an effect of the religion of neoliberalism, which
is leading the contemporary world towards barbarianism and social devastation.
The premise of neoliberal dogmatism is the
reduction of social life to the mathematical implications of financial algorithms. What is good for
finance must be good for society, and if society
does not accept this identification and submission,
then that means that society is incompetent, and
needs to be redressed by some technical authority.
Goldman Sachs consultants, or bankers-like
Lucas Papademous of Greece and Mario Monti of
Italy-are imposed by financial power as unquestionable leaders of those countries which lag
behind the necessary submission to the technical

The European Col!apse / 3 1

authority of statistics, algorithms, and figures,

which don't want to conceive of the general interest
in mathematics, or believe that social life must
be submitted to the unquestionable rationale of
the markets.
When democratic rituals endanger the execution of the austerity plans which are destined to
restore the mathematical perfection of social life,
and to pay the infinite debt that we owe to the
banks, democracy is cancelled-as happened in
Greece when the democratically elected President
Papandreou dared to call for a referendum on the
austerity measures imposed by the European
banking system. Markets expelled the democratically
elected Greek president, and replaced him
overnight with a Goldman Sachs consultant.
What is the whimsical, supercilious entity which
is often nervously referred to as "the markets"?
Markets are the visible manifestation of the
inmost mathematical interfunctionality of algorithms embedded in the techno-linguistic machine:
they utter sentences that change the destiny of
the living body of society, destroy resources, and
swallow the energies of the collective body like a
draining pump.
Financial enunciations pretend to abide by the
rules of indexicality. The rating agencies which
downgrade or upgrade an enterprise, a bank, or a
nation pretend to act as indicators of the real situation

32 I TI1e Up:ising: On Poetry and F1nance

of that enterprise, that bank, or that country. They

preten d to Predict something about the futureh of
chat enterprise, bank, or country. Actually, t ey
rath e r Utter a self-fulfilling prophecy. The
pre d IC I
. I'llocutionary acts (performative utterances),
mmunications that have been submitted to
the techno-linguistic implications of the economy.
Contemporary science and epistemology are
totally at O dds with the reductionist methodology
of the financial economy.
The faith in the financial balance wh1ch IS
imposed on the European pop~lation is based on
a philosophical misunderstandmg: th~ promoters
of financial stability chink chat the social body and
mathematics belong to the same sphere. They are
wrong, as reality is not mathematical, and mathematics is not the law of reality, but a language
whose consistency has nothing to do with the
multilayered consistency of life.
Mathematics is not in itself ferocious. Mathematics becomes ferocious when it is forcibly
inscribed into the living organism of society, and
chis ferocious mathematization of the living body of
society is preparing the worst evolution of Europe.
It should be ludicrous to say that Goldman
Sachs consultants, or the European Central Bank
director, or the chancellor of Germany, are Nazis.
They don't look like sadistic murderers, but they

The European Collapse I 33

want to peacefully submit the European population to mathematical slavery, which is clean,
smooth, perfect.
In this way they are simultaneously establishing
a cold form of totalitarianism, and preparing a hot
form of massive fascist reaction. The abstract, cold
violence of dererritorialized financial dictatorship
is preparing the violent reterritorializarion of the
reactive body of European society: nation, race,
ethnic cleansing, and religious fundamentalism are
reappearing on the scene.
The algorithmic chain has an intrinsic causality,
which is the consistent causality of a language
created by the human mind in a sphere of selfvalidating (tautological) abstraction. The financial
religion is transferring the consistency of the algorithmic chain into the social reality of the collective
body. This is the philosophical misunderstanding
which corresponds to the economic interests of the
posrbourgeois class of financial predators.
Imposing mathematical causality on rhe
uncertainty of the bodily and social processes of
becoming-other is the most dangerous of mistakes.
It is provoking the birth of a new form of fascism,
which is already underway in many countries of
Europe, as more and more people are turning
toward racist sentiments, and a wave of depression,
despair, and suicide is sweeping the continent. The
subjection of social communication to the financial

34 I The Upns,r.g: On Pceiry and Finance

algorithmic chain can be described as the imposition

of a symbolic debt.
From this perspective, we can argue that the
disentanglement of social life from the ferocious
domination of mathematical exactitude is a poetic
task, as poetry is language's excess: an insolvent
enunciation in rhe face of rhe symbolic debt.
The Dystopic Prophecy of Poetry
The arallel histories of poetry and finance may be
starring from rhe concept of the
aliry of floating values," as Baudrillard .pur it 111 h1s
seminal Symbolic Exchange and Death 111 1976. .
From symbolism to futurism, up to the expenences of the bear generation and fluxus, poets have
anticipated and predicted the trajectory of the
Jobal economy and of the ordinary business of life.
fr has mostly been a frantic anticipation, a dyscopic
prophecy, as poets forebode the c~mi~g. dis~orrions
and perversions of the huge deternconal1zanon that
would come with capitalist globalization.
Think of "The Second Coming" by William
Butler Years:



Turning and tuming in the widening gy're

The falcon cannot hear the falconer;
Things faLL apttrt; the centre cannot hold;
Mere anarchy is loosed upon the world,

The blood-dimmed tide is loosed, and eve1ywhere

The ceremony ofimzocence is drowned,
The best lnck all conviction, while the worst
Are fit!! ofpassionate intensity.

Then, he says:
Surely some revelation is at hand,
Surely the Second Coming is at hand.

W~ar revelation can we read in Years's poem,

Wntten in I 9 I 9?
The center cannot hold, and things have fallen
apart, detached from their meaning. The revelation of the century is the devastating spiral of
abstraction and nihilism: abstraction of work from
activity, abstraction of goods from usefulness,
abstraction of time from sensuousness. Abstraction
has detached the epidermis of language from the
flesh of the linguistic body.
At the beginning of the second decade of rhe
new century, as deregulated predatory capitalism is
destroying the future of the planer and of social
life, poetry is going to play a new game: the game
of reactivating the social body.
In the streets of Europe and in the whole
basin, young people are revolting
agamsr the brutal exploitation of their rime and
intelligence, and against the financial abstraction


which is devastating social life. They are the precarious generation, obliged to accept exploitation
and low wages, depleted of necessary resources for
their education, promised a future of the endless
repetition of a meaningless act of sacrifice on the
altar of debt. They are simultaneously the first
connected generation, the first generation of
Internet natives. They are not only protesting
against the gruesome effects of ne~liberal ~ule,
they are also looking for a new meanmg of thmgs,
activity, and love.
The global deterritorialization of financial capitalism has spread precariousness, psychic fragility, and
desolidarization. Therefore the current precarious
insurrection questions the rhythmic disturbance
provoked by semio-capital, and tries to o~erc~me
our existing inability to tune into a shared vibration.



In the crucial year 1933, Julien Benda wrote the

following words, in his book Discours a Ia nation
europeenne (Address to the European nation):
Europe will not be the fruit of an economic transformation: it will exist only when it will adopt a
certain system of moral and aesthetic values.

36 I The Uprising: On Poetry ancl F1nance

The European Collapse / 37

I want to start from these words of Benda's because

I want to talk about Europeaness: what Europe is,
what Europe may be, what Europe cannot be. I
start from Julien Benda and from this well-known
speech on the European nation, because what is
remarkable in his text is his being conscious of the
fact that Europe is not an existing entity, bur something that has to be created by the imagination.
What has Europe been over the past century?
First of all, Europe has been the project of going
beyond war, going beyond a cultural and philosophical war, not only the war between France
and Germany, bur the war between romanticism
and Enlightenment. So, at the beginning of the
twentieth century, the European project was
essentially a project of the will, spirit, and imagination, if you will. Then in the 1970s and '80s,
the project of Europe became a project of overcoming the opposition between East and West,
between democracy and existing socialism, and
so on-a project that existed in the imagination
of Europeans.
What now? This is the question I'm trying to
answer. What is Europe now? If we listen to the
speeches of Angela Merkel, for instance, and to
those of all the other European politicians, be
they leftist or rightist, it makes no difference .. .
Europe is a dogmatic project of reassuming and
reinforcing neoliberal ideology, of a neoliberal

38 I Ti1e Upnsing: On Pcetry and Finance

that leads to the impoverishment

regu Ianon
. of

the postponement of retirement, and ftn~lly, to
the sad project of destroying, of devastanng, of
dismantling the general intellect.
This is the central project of Europe nowa.
days: the destruction of collective intelligence.
Or, if you want to say it in a more pros~Ic w_ay,
the destruction of the university, and the subjugauon
the narrow interests of profit and
0 f researc h to
economic competition.
You know the situation of our most recent
generation of students, for instance: we are teaching
things that may be good or bad, but are in the end
useless as far as their future is concerned, because
they don't have a future.
Not having a future: this is already a kind of
refrain, but I think we should start from this consideration, from this obvious knowledge-the idea of
a nonexistent future-as a condition of thought: if
we start by dismantling the very possibility of .a
future, we are obliged to go beyond the dogmanc
reassertion of neoliberalism.
Let us look at the landscape of philosophical
and political thought in Europe today, the s~
called European high culture. The landscape IS
rather gloomy.
I remember what the philosophical discussion
was in the 1960s and '70s, in the wake of the

The European Collapse I 39

Critical Theory that made possible the creation of

the European entity in the sphere of dialectical
I remember what French thought was in the
I 970s and in the '80s, in the age of Gilles Deleuze
and Felix Guattari, Michel Foucault, Jacques
Derrida, and Jean-Franc;:ois Lyotard. Their thought
was an attempt to imagine a possible future, but it
was also much more: it offered a cartography of the
coming future of the neoliberal, self-proclaimed
I think, for instance, of Foucault's wonderful
book, The Birth ofBiopolitics, which was probably
the most enlightening, imaginative forewarning
of what was going to happen in the landscape of
the world.
And I also think of books like Anti-Oedipus and
A Thousand Plateaus, and Baudrillard's Symbolic
Exchange and Death. These are the most important
books of the I 970s and '80s, and you can read
them all as cautionary imaginations of the coming
neoliberal revolution. The work of these French
philosophers of the I970s and '80s has formulated
a cartography of the coming dystopia: a way of
thinking about the coming future as a dark age of
violence and impoverishment.
Then I look at the landscape of German philosophy in the I 970s and '80s: I consider the debate
between ]i.irgen Habermas and Niklas Luhmann,

cror mstan

ce This '

too ' was an important anticipa.

fwhat Europe was going to become.
non o

The good and, in a sense, benevolent 1dea o
on the one
h H abermasian dialogic society,
t e
. .
s1.d e: t h e predicted benefits o commumcatton,
t e
d h
democraCy And ' on the other si e, t e re 1snc
consideration of Luhmann, who describe~ a
future without alternatives, without poSSible
s , a future of governance. This. was a highutopia
profile discussion, wh ich was focusmg the rea '
problematic horizon of the Euro_pean future.
Governance, this word which has totally
invaded the field of political nonrhought, was
first proposed and deconstructed by L~hman n i_n
the I 970 s and '80s. What is the meanmg of this
word, beyond the political manipulations of the
ruling class over the last few decades?
As far as I can understand, the fact that governance is a wo rd which is much used and never
defined today is a symptom of the total poverty
of the political practice of our time.
If we begin fro m the Luhmannian perspective, we can understand that governance is the
automation of thought, the autom ation of social
existence. Governance is information without
meaning, a dominance of the unavoidable.
In governance praxis, economic dogma is
transformed into techno-linguistic automatism.

40 I TI1e Upris;ng: On Poetry and Finance

Tr.e Eu,opean Co'taose 1 41

T his is governance at its very end. In this sense

Luhman n was ki nd of like a Philip K. Dick of
political thought; he was like the Johnny Ro tten
of political imagi nation. H e was speaking abour
no future, the coming no future, which is the
here and now.
Starting from this sense of no future that the
po~itical thought of the 1970s and '80s had proclaimed and m apped in advance, we can understand what is happening today in the present
European nightmare.
. ~~ose thinkers were able to imagine and to
cnticize, but now? Now, cynicism has invaded
the sphere of thought, no less than the sphere of
Look at the sadness of French cynical
thought, think of what has become of the inrellecrual landscape of Paris: a monument to sadness
a m onument to cynicism. Paris today is a ci~
wh~re t~ought has been transformed into journ alism, Into the continuo us repetition of this
ki nd of illusion of European arrogance w hich
has ~aved the way to the fi nancial collapse, to
th~ 111finite war that George W Bush has proclai,m ed , ~nd that Tony Blair, N icolas Sarkozy,
Jose M an a Aznar, and Silvio Berl usconi have

philosophes, have paved t~e way to dogmatis~,

violence, racism, impovenshment, and financial

A light of possible intelligence and openness
seems to come nor from philosophy, bur from art.
I am not actually sure of what I am talking
about when I say the word art. Yo u aren't
either-nobody is exactly.
Yet it seems that in a recent poll, twen ty-four
to cwenry-five percent of young German people
interviewed by journalists answered the question
"what do you want to do when you're an adult"
by stating that they wanted to be artists. W hat
are they picturing? What do they thi nk being an
artist means, exactly? Are they thinking about
the rich possibilities that the art market offers?
Well, maybe, but I don't think so. I think that
they are saying that they want to be artists
because they feel that being an artist means to
escape a future of sadness, to escape a future of
precariousness as sadness. They are thinking, well,
precariousness and sadness can become som ething different, something not so sad, not so
precarious, if they with draw their faith, if they
withdraw from any expectations a capitalist
future can offer. I don't want to expect anything
from the future, so I start my fut ure as an artist.

T he cynical nonthin kers who inhabit the

Parisian scene of today, once called les nouveaux

The European Col!apse I 43


"The German worker does not want to pay the

Greek fisherman's bills." The fanatics of economic
fundamentalism are pitting workers against workers and leading Europe to the brink of civil war. In
their relentless efforts to transfer money and
resources from society to the financial classes,
neoliberal ideologues have never hesitated to use
manipulation and deception: their half-truths
and fictions are transformed by the global media
into "common knowledge." Here are a few such
conceptual manipulations which are helping
neoliberalism destroy European society:
First manipulation: By lowering taxes on the rich,
you will increase employment.
Why should this be the case? Such logic is
beyond comprehension. On the contrary: the
owners of capital invest only so long as their profits
are perceived to be guaranteed. Any influence of
state taxation on investment plans is at best
inconsequential, and more often than not irrelevant. The state should thus progressively increase
taxation on the rich in order to further invest
resources and create jobs. The conceptual foundation of Reaganomics, the so-called Laffer curve
(progressive lowering of taxes on the affluent), is
nothing more than abstract rubbish which has
been transformed into a legislative commandment

wielded by both the left and right wings for the

last thirty years.
Second manipulation: Postponmg the rettrement
age increases youth employment.
An absurd assessment. If an elderly worker
Iogically a new job will be available kfor .a
younger Worker If' however, an elderly
. wor er IS
. or seven
years beyO nd what was stipulated
. in his contract,
I . all this J'ob will not be available for a younger
ogic y
f h dd' al
worker throughout the entirety o t e a . mon.
duration. A simple syllogism. Yet economiC policy
over the last thirty years, both on the left and. right
favors this mysterious and contradictory
. . le ,n which elderly workers must be forced
to work longer in order to increase employment
opportunities for the young. The result being that
capitalists, instead of paying a pension to the
elderly and a salary to young workers, pay a
salary to averaged workers while blackm:ulmg
unemployed youths into accepting any form
whatsoever of precarious, underpaid labor.
Third manipulation: Privatization and market
competition are the best guarantees of quality for
schools and public services.
Over thirty years of rampant privatization has
amply demonstrated that the private sector
inherently facilitates drastic reductions in quality.
This is because the private sector is primarily

44 I The Upnsing: On Poetry and Finance

T11e European Collapse I 45

interested in increasing profits, not promoting the

public good. And when reduction in quality leads
to outright malfunction, as often happens, the
resulting losses for prerequisite services are
socialized while profits remain private.
Fourth manipulation: Workers are paid too mud~
we have been living above and beyond our means. We
must be paid less in order to become more competitive.
The preceding decades have witnessed a drastic
cut in actual wages, while profits have skyrocketed.
In successfully leveraging the threat of job transfer
to newly industrialized countries where the cost of
work hovers at near-slavery levels and conditions,
western workers' salaries have been severely
reduced along with the capitalist's production
costs. Debt has been favored in any and all forms
in order to entice people to purchase otherwise
unsellable merchandise and goods. All of this has
induced a cultural and political process of pushing
forms of social agency into a condition of dependency (debt is an agent within the unconscious
enabling guilt and a consequent drive for atonement), and at the same time has rendered the
entire societal system vulnerable and fragile, exposing
it to repeated collapse as witnessed in the frequent
economic bubble "boom and crash" cycles.
Fifth manipulation: Inflation is our preeminent
danger, and the Central European Bank has only one
goal, to oppose inflation at any cost.

46 I The Uprising: On Poetry and Finance

What is inflation? Inflation is either a reduction

in the value of money, or an increase in the price of
commodities. Inflation may indeed be dangerous
for a society, but balancing mechanisms may be put
into place (such as the sliding-scale mechanism
used in Italy until 1984, when it was cancelled
under yet another glorious neoliberal "reform").
The true danger for social life is deflation, which
leads to recession and the reduction of the social
machine's productive potential. Owners of capital,
rather than seeing the value of their money
diminish, prefer provoking recession and widespread social misery. The European bank prefers
creating recession, misery, unemployment, poverty,
barbarianism, and violence, rather than abdicating
the restrictive rules of the Maastricht Treaty, which
prevent it from easily printing money, giving society
space to breathe, and redistributing wealth. In order
to manufacture an artificial fear of inflation, the
ghost of Germany's inflation cycle of the 1920s
{justly feared by the Germans) is invoked, as if
inflation itself were the cause of Nazism, and not
the manner in which inflation was managed by
German and international capitalists of the time.
Everything is crumbling-it's crystal clear. The
measures that the financial class are forcing on
European countries are the exact opposite of"solutions": they can only multiply the scale and effects
of the disaster. It's called a financial "rescue," but it's

The European Collapse I 4 7

a strange form of rescue, designed to slash salaries

(thereby reducing future demand), cut spending on
social infrastructure, destroy public schools, and
contract present and future productive capacity,
thereby inducing an immediate recession. The way
events have unfolded in Greece perfectly demonstrates these facts: the European financial rescue has
destroyed its productive capacity, privatized its
public structures, and demoralized its population.
Greece's Gross Domestic Product has dropped by
seven percent in one year alone, with no signs of
recovery. Rescue loans are administered at such
high rates of interest that Greece can only sink
further into debt and endure an increasing sense of
guilt, misery, and hatred toward Europe. And now
the Greek "rescue" is being applied to Portugal,
Spain, Ireland, and Italy. Its only effect will be a
massive transfer of resources and wealth from these
countries to the ruling financial class. Austerity will
not reduce deficits. On the contrary, it will lead to
deflation, as well as the reduction of production
and wealth, provoking further debt and consequent
borrowing to the point where the European castle
will be forced to crumble.
Resistance movements must be prepared.
Revolt is winding its way through European cities,
having taken concrete shape in Rome, Athens, and
London on December 14, 2010; and later in the
acampada protests of May and June in Spain, and

48 I Tl~e Up'iSn;?: On Pootr, and Frnan-::e

the four nights of rage in the suburbs of England.

Insurrection will expand and proliferate in the
upcoming months, yet it will not be a lighthearted
underraking, nor will it be a linear process of social
Society has been broken up, rendered fragile
and fragmented by thirty years of perpetual precarization, uncontrolled and rampant competition,
and psychic poisoning produced and controlled by
the likes of Rupert Murdoch, Silvio Berlusconi,
and their criminal media empires.
There will be little cheer in the coming insurrection, which will often be marked by racism
and self-defeating violence. This is the unfortunate
effect of the long process of desolidarization
which neoliberalism and the criminal political
left have subjected society to for decades through
their incessant proliferation and fragmentation
of work.
In the upcoming years we can expect the diffusion of widespread ethnic civil war, as already
witnessed in the dust of the English revolt and the
outbursts of violence in Birmingham. No one will
be able to stop or guide the insurrection, which
will function as a chaotic reactivation of the energies of the body of the socius, which has for too
long been flattened, fragmented, and lobotomized.
The task of resistance movements will not be to
provoke, but rather to create (coextensively with

TIe European Coii3JCSe I 49

the insurrection) autonomous structures for

knowledge, existence, survival, psychotherapy, and
giving life meaning and autonomy. This will be a
long and potentially traumatic process.
Europe must overcome Maasrrichr in order ro
be reinvented. D ebt must be disowned just as must
be the measures which cause and feed ir. The fall
of Maastricht is perilous, yet unavoidable, as it will
inevitably open the doors to nationalism and
violence. Yet Europe, as it stands, can no longer be
defended. Resistance movements must rearriculate
European discourse through social solidarity,
egalitarianism, rhe reduction of working rime,
the expropriation of capital conglomerates, the
cancellation of debt, and rhe abolition of borders
toward the construction of a postterrirorial politics.
Europe must be pushed beyond Maastricht and
the Schengen Agreement and embrace a future
form of the international.


A Movement for the Reactivation of the Social Body

The European leading class seems incapable of
thinking in terms of the future. T hey are panicking
and, frightened by their own impotence, they are

50 I The Upns ng: On Pceuy and Finance

trying to reaffirm and reinforce measures that have

already failed.
T he European collapse is exposing the agony of
capitalism. The flexibility of the system is over, no
margins are left. If society is to pay the debt of the
banks, demand has to be reduced, and if demand
is reduced, growth will not follow.
Nowadays, it's difficult to see a consistent
project in the frantic action of the leading class.
"No future" culture has taken hold of the capitalist
brain, and the origin of this capitalist nihilism is
to be found in the effect of deterritorializarion
rhar is inherent ro global financial capitalism.
The relation between capital and society is
dererritorialized, as economic power is no longer
based on the property of physical things. The
bourgeoisie is dead, and the new financial class
has a virtual existence: fragmented, dispersed,
T he bourgeoisie, which was once in con trol of
the economic scene of modern Europe, was a
strongly territorialized class, linked to material
assets; it could nor survive without relationships to
territory and communi ty. The financial class
which has taken the reins of the European political
machine has no attachment either to territory or to
material production, because its power and wealth
are founded on the total abstraction of digital
finance. This digital-financial hyperabstraction is

Tt1e European Collapse I 51

liquidating the living body of the planet and the

social body of the workers' community.
Can it last? The European directorate that
emerged after the Greek crisis, in the absence of
any consultation of public opinion, has affirmed
its own monopoly over decisions regarding the
economies of the different countries approaching
default in 2011. It effectively divested parliaments
of authority and replaced EU democracy with a
business executive headed by the large banks. Can
the ECB-IMF-EU directorate impose a system of
automatisms that secures EU members' compliance
with the process of public-sector wage reduction,
layoffs of a third of all teachers, and so on? This
order of things can not last indefinitely, as the final
collapse of the Union is the point of arrival of the
spiral of debt-deflation-recession-debt that is already
exposed in the Greek agony.
Society was slow in reacting, as collective intelligence has been deprived of its social body, and
the social body has been completely subj ugated
and depressed. Then, at the end of 2010, a wave
of protests and riots exploded in the schools and
universities, and now that wave is mounting
everywhere. But protests, demonstrations, and
riots seem unable to force a change in the politics
of the Union. Let's try to understand why, and let's
also try to look for a new methodology of action
and a new political strategy for the movement.

52 I

n,e Upris,ng: On Poetry and F1nancE:

The protest movement has proliferated during

the last year. From London to Rome, from Athens
to New York, not to mention the North African
precarious workers who have been part of the
recent upheavals that are changing (for better or
worse) the Arab world, this movement is targeting
the financial powers and tryi ng to oppose the
effects of the financial assault on society. The
problem is that peaceful demonstrations and
rotests have not been able to change the agenda
~f the European Central Bank, as the national
arliaments of the European countries are hostages
~f the Maastricht rules, which are financial automatisms working as the material constitution of
the Union . Peaceful demonstrations are effective in
the frame of democracy, but democracy is over
now that techno-financial automatisms have taken
the place of political decisions.
Violence is erupting h ere and there. The four
nights of rage in the English suburbs and the
violent riots of Rome and Athens have shown that
it's possible for social protest to become aggressive.
But violence, too, is unfit to change the course of
things. Burning a bank is totally useless, as financial power is not in the physical buildings, but in
the abstract connections between numbers, algorithms, and information. Therefore, if we want to
discover forms of action which may be able to
confront the present form of power, we have to

Tile European Col!aps_, I 53

start from the understanding that cognitive

labor is the main p roductive force creating the
techno-linguistic automatisms which enable
financial speculation. Following the example of
Wikileaks, we must organize a long-lasting process
of dismantling and rewriting the techno-linguistic
automatons enslaving all of us.
Social subjectivity seems weak and fragmented
against the backdrop of the financial assault.
Thirty years of the precarization of labo r and
competition have jeopardized the very fabric of
social solidarity, and workers' psychic ability to
sh are time, goods, and breath made fragile. The
virrualization of social communication has eroded
the empathy between human bodies.
T he problem of solidarity has always been crucial
in every process of struggle and social change.
Autonomy is based on the ability to share daily
life and to recognize that what is good for me is
good for you, and that what is bad for you is bad
for me. Solidarity is difficult to build now that
labor has been turned into a sprawl of recombinant
time-cells, and now that the process of subjectivation
has consequently become fragmentary, disempathetic, and frail.
Solidarity has nothing to do with altruistic selfdenial. In materialistic terms, solidarity is not
about yo u, it's about me. Like love, solidari ty is not
about altruism: it is about the pleasure of sharing

54 I Tt1e Upnsng: On Pcstry and Fna"lce

the breath and space of the other. Love is the ability

to enjoy myself thanks to your presence, to your
eyes. This is solidarity. Because solidarity is based
on the territorial proximity of social bodies, you
cannot build solidarity between fragments of time.
I don't think that the English riots and the
Italian revolts and the Spanish acampada should be
seen as consequential revolutionary forms, because
they are unable to really strike at the heart of
power. They have to be understood as forms of the
psycho-affective reactivation of the social body;
they have to be seen as attempts to activate a living
relation between the social body and the general
intellect. Only when the general intellect is able to
reconnect with the social body will we be able to
start a process of real autonomization from the grip
of financial capitalism.
The Right to Insolvency
A new concept is emerging from the fog of the
present situation: the right to insolvency. We're not
going to pay the debt.
The European countries have been obliged to
accept the blackmail of the debt, but people are
rejecting the notion that we should have to pay for
a debt that we have not taken.
Anthropologist David Graeber, in his book
Debt: The First 5,000 Yem:r (2011), and philosopher

The European Col'apse I 55

Maurizio Lazzara to, in The Making of the Indebted

Man (201 2), have inaugurated an interesting
reflection on the cultural origin of the notion of
d ebt, and t he psychic implications of the sense of
guilt that this notion carries.
Additionally, in his essay "Recurring DreamsThe Red H eart of Fascism," the young AngloItalian thinker Federico Campagna pinpoints the
analogy berween the post-Versailles Congress years
and the debt-obsessed present.
Last rime, it rook him decades to be born. First it
was the war, and then, once it was over, it was
debt, and all the ries that came with it. It was the
rime of industrialization, the rime of modernity,
and everything came in a mass scale. Mass
impoverishment, mass unemployment, hyperinflation, hyper-populism. Nations were cracking
under the weight of what marxisrs used to call
"contradictions," while capitalists were clinging
to the brim of their top-hats, all waiting for the
sky to fall to earth. And when it fell, they threw
themselves down after it, in the dozens, down
from their skyscrapers and their office blocks.
The air became electric, squares filled up, trees
turned into banners and batons. It was the interwar period, and in rhe depth of the social body,
Nazism was still hidden, liquid and growing,
quiet like a foetus.

56 I TI1e Up1is ng: On Poetry and Finan::e

T his time, everything is happening almost

exactly the same way as las t time, just slightly outof-sync, as happens with recurring dreams. Once
again, the balance of power in the world is shifting.
The old empire is sinking, melancholically, and
new powers are rushing in the race to the top. Just
like before, their athletic screams are the powerful
ones of modernity. Growth! Growth! Growth!
Their armies are powerful, their teeth shiny, their
hopes murderous and pure. Old powers look at
them in fear, listening to their incomprehensible
languages like old people listen ro young people's
music. (Campagna, 2011)
T he burden of d ebt is haunting the European
imagi natio n of the future, and the U nion, which
used to represent a pro mise of pros perity and
peace, is turning into a blackmail and a threat.
In response, the movement has launched the
slogan: Weie not going to pay the debt. T hese words
are deceiving at the moment, as in actuality we are
already paying for the debt: the educational system
has already been defl nanced and privatized, jobs have
been elimated, and so on. But these words are meant
to change the social perception of the debt, creating a
consciousness of its arbitrariness and moral illegitimacy.
T he right to insolvency is emerging as a new
key phrase and concept loaded with philosophical
implicatio ns. The concep t of insolvency implies

The European Collapse I 57

not only a refusal to pay the financial debt, bur

also, in a more subtle way, a refusal to submit the
living potency of social forces to the formal domination of the economic code.
The reclamation of the right to insolvency implies
a radical questioning of the relation between the
capitalist form (Gestalt) and the concrete productive
potency of social forces, particularly the potency of
the general intellect. The capitalist form is not only a
set of economic rules and functions, it is also the
internalization of a certain set of limitations, of
psychic automatism, of rules for compliance.
Try to imagine for a second that the whole
financial semiotization of European life disappears;
try to imagine that all of a sudden we stop organizing daily life in terms of money and debt.
Nothing would change in the concrete, useful
potentiality of society, in the contents of our
knowledge, in our skills and ability to produce.
We should imagine (and consequently organize)
the disentanglement of the living potentiality of
the general intellect from the capitalist Gestaltintended, first and foremost, as a psychic automatism governing daily life.
Insolvency means disclaiming the economic
code of capitalism as a transliteration of real life, as
a semiotization of social potency and richness.
The concrete, useful productive ability of the
social body is forced to accept impoverishment in

58 / TI1e Upnsing: On Poetl)l and F1nance

exchange for nothing. The concrete force of productive labor is submitted to the unproductive,
and actually destructive, task of refinancing the
failed financial system.
If we may paradoxically cancel every mark of
this financial semiotization, nothing would change
in the social machinery, nothing in our intellectual
ability to conceive and perform.
Communism does not need to be called out
from the womb of the future; it is here, in our being,
in the immanent life of common knowledge.
But the present situation is paradoxicalsimultaneously exciting and despairing. Capitalism
has never been so close to its final collapse, but
social solidarity has never been so far from our
daily experience. We must start from this paradox
in order to build a postpolitical and postrevolutionary process of disen tangling the possible from
the existent.



Financial Dictatorship
Intellectuals like Jiirgen Habermas and Jacques
Derrida, among many others, have in the past
stressed the refrain: "We n eed to create institutions

The European Collapse I 59

for unified political decision at the level of the

European Union."
In the aftermath of the Greek crisis, it seems
that the Europhile intellectuals have gotten what
they have been asking for. The Euro entity has
been subjected to an act of political decision and
to a sort of political directorate which is enforcing
narrow obedience. Unfortunately, however, politics
has taken this lead only in order to make the
assessment that finance alone represents the true
leadership of the Union.
A political enforcement of finance's domination
over European society has been the outcome so far
of this early stage of the European tragedy.
Welfare-state institutions have been under
attack for thirty years. Full employment, labor
rights, social security, retirement, public school,
public transportation-all have been reduced,
worsened, or destroyed. After thirty years of
neoliberal zeal, a collapse has occurred.
What will happen next? The leading class answers
roughly: more of the same. Further reduction of
salaries for public workers, further postponement
of the retirement age. No respect for society's needs
or for the rights of workers.
Thatcher said thirty years ago that there is no
such thing as society. Today, that echoes like a selffulfilling prophecy. Society is in fact dissolving,
reducing public space to a jungle wherein everyone

60 I Ths Upns,ng: On Poetry ar:d Ftnanca

is fighting against one another. After the Greek

crisis, the dogma of monetarism has been strongly
reinforced, as if more poison could act as an antidote. Reducing demand will lead to recession, and
the only outcome will be a further concentration
of capital in the hands of the financial class, and
the further impoverishment of labor.
After the Greek financial crisis, emergency
rule was declared. A self-proclaimed directorate,
Merkel-Sarkozy-Trichet, imposed a deflationary
policy, and is now going to impose it on the
different national governments of Europe. In
order to save the financial system, this self-proclaimed directorate is diverting resources from
society to the banks. And in order to reaffirm
the failed philosophy of neoliberalism, social
spending is cut, salaries are lowered, retirement
time is postponed, and young people's work is
made precarious.
Those who will not bend to the Great Necessity
(Competition and Growth) will be out of the
game. Those who want to stay in the game will
have to accept any punishment, any renunciation,
any suffering that the Great Necessity will
demand. Who said that we absolutely must be part
of the game?
The effect of the collapse of neoliberal politics has
so far been its own confirmation and consolidation.
After the collapse of the American financial system,

everybody was expecting abandonment or at least

attenuation of capital concentration, and a process of
revenue redistribution seemed possible in order to
increase demand. Nothing like this has happened. A
Keynesian approach has not even been explored, and
Paul Krugman has been left alone to repeat very
reasonable things that nobody wants to hear.
Thanks to the crisis, American society has been
robbed for the benefit of big finance, and now
Europe is following the same dynamic, with a sort
of mathematical ferocity.
Is there any chance of stopping this insane race?
A social explosion is possible, because the conditions of daily life will soon become unbearable.
But labor precarity and the decomposition of
social solidarity may open the way to a frightening
outcome: ethnic civil war on a continental scale
and the dismantling of the Union, which would
unleash the worst passions of the nations.
In Paris, London, Barcelona, and Rome, massive demonstrations have erupted in protest against
the restrictive measures, but this movement is not
going to stop the catastrophic freight train of
aggression bearing down on social life, because the
European Union is not a democracy but rather a
financial dictatorship whose politics is subjected to
unquestionable decisions.
Peaceful demonstrations will not be able to
change the course of things, and predictable violent

62 I

n-,e Upris:ng: On Poeiry ar.o Franc~

explosions will be exploited by the repressive force

of the state. A deep change in social perception and
lifestyle will occur, and a growing portion of society
will withdraw from the economic field, and stop
partaking in the game of work and consumption.
These people will abandon the script of individual
consumption; create new, enhanced forms of
cohabitation; establish village economies in metropolises; withdraw from the field of the market
economy; and create community currencies.
Unless they are seized by avarice-a psychotic
obsession-all that human beings want is a pleasant,
possibly long life, and to consume only what is
necessary to stay fit and make love. "Civilization"
is the pompous name we have given to every
political and moral value that has made the pursuit
of such a lifestyle possible.
The financial dogma states the following: if
we want to keep partici paring in the game played
in banks and stock markets, we must forfeit a
pleasant, quiet life. We must forfeit civilization.
But why should we accept this exchange? Europe's
wealth is not based on the stability of the euro on
international markets, or on managers' ability to
keep count of their profits. Europe is wealthy
because it has millions of intellectuals, scientists,
technicians, doctors, and poets, and millions of
workers who have for centuries developed technical knowledge. Europe is wealthy because it has

The European Collapse I 63

historically managed to valorize competence, not

just competition, and to welcome and integrate
cultures from afar. It is also wealthy, it must be
said, because for four centuries it has ferociously
exploited the physical and human resources of
other continents.
We must forfeit something, but what exactly?
Certainly, we must let go of the hyperconsumption imposed on us by large corporationsbut not by the traditions of humanism, the
Enlightenment, and socialism, not by the ideals of
freedom, civil rights, and welfare. And I say this
not because I believe we should be attached to
principles of the past, but because these principals
make it possible to live decently.
The prospect open to us is not a revolution.
The concept of revolution no longer corresponds
to anything, because it entails an exaggerated
notion of political will over the complexity of
contemporary society. Our prospect is a paradigmatic shift: to a new paradigm that is not centered
on product growth, profit, and acc umulation, but
on the full , unfolding of the power of collective
Aesthetics of Europe
The aesthetics of the European Union are frigid
by definition .

64 I Tne Ur:;nsn;r On Poetry ancl Fir\3Pce

The European Union was born in the aftermath of the Second World War, with the goal of
forgetting our old nationalist and ideological passions. Here lies its progressive and pragmatic
nature. Forgetting romanticism is the categorical
imperative of the Union.
Lately, however, this foundational, antimythological myth of the Union seems blurred, confused,
and forgotten because its apathetic perception of
being together was only possible in a condition of
prosperity. As long as the EU was able to guarantee
a growing level of consumption, as long as the
monetarist rule favored economic growth, the EU
could exist. What now?
The European Union is a fiction of democracy
actually governed by an autocratic organism, the
European Central Banlc While the Federal Reserve
in the US is officially dedicated to the stability of
prices and full employment, the ECB charter
declares only one goal: fighting inflation. Today this
goal is irrational, as deflation is the prevailing trend.
Citizens can do nothing in order to influence
the politics of the ECB, as the Bank does not
respond to political a uthority. This is why
European citizens have been conscious of the
vacuity of European elections. In the future they
may come to view the Union as their enemy.
Social movements should try to change the
landscape, and imagine the mythology for cultural

Tile Eu1opean Collapse I 65

transition. We should focus on a foundational

myth of European history: the myth of energy.
Modern culture and political imagination have
emphasized the virtues of youth--of young passion,
and of energy, aggressiveness, and growth.
Capitalism is based on the exploitation of physical
energy, and semio-capitalism has subjugated the
nervous energy of society to the point of collapse.
The notion of exhaustion has always been
anathema for the discourse of Modernity:
Romantik Sturm und Drang, the Faustian drive
toward immortality, an endless thirst for economic
growth, and profits.
Organic limits have been denied, forgotten.
The organic body of the Earth, and the entropy
inherent to human life, has been despised, concealed, and segregated.
The romantic cult of youth is the cultural
source of nationalism. During the Romantic era,
Europe was an emerging civilization which was
securing political hegemony by conquering the
great Eastern civilizations. We should not forget
that at the end of the eighteenth century, India
and China were responsible for producing more
than seventy percent of the total global product of
the world. Their decline cannot be separated from
Europe's ascent to domination.
In the colonial age, nationalism was the cultural
condition of colonial Empires like Britain and

66 I Tile Uprising: On Poetry and Finance

France, but around the turn of the twentieth

century, nationalism resurfaced in a responsive
form and began to express the self-affirmation of
young countries (Italy, Japa.n, and ~ermany),
while the old empires (Russ1a, Austna and the
Ottomans) were heading toward collapse.
Nationalism can also take a self-affirmative
form for the young generation at the cultural and
economic level, as is evident in Italian futurism.
Old-fashioned styles are devalued, old people and
women despised because of their weakness. Fascism
depicts itself as the young age of the nations.
In late modernity, the rhetoric of the young and
the devaluation of the old becomes an essential
feature of advertising. Contrary to fascist discourse,
late-modern advertising does not abuse old age. It
denies it, claiming that every old person can be young
if they will only rake part in the consumerist feast.
The fascism that triumphed in Italy after 1922
can be seen as an ene1golatreia (energy worship) of
rhe young.
Berlusconi's style is restaging arrogance, contempt for democratic rules, and machoism, bur
rhe actors of the present comedy are old men who
seek help from bio-rechniques, psycho-chemistry,
and pharmacology. Denial of age and of time is
the ultimate delirium of the global class, as
Norman Spinrad shows in his 1969 novel, Bug
jack Barron.

The Eurooean Collapse I 67

Like the heroic mythology of fascist nationalism

(and als~ the mythology of advertising),
Berlusconi s subcul ture is based on a delirium of
power. The former was based on the youthful
virtues of strength, energy, and pride; the latter is
~ased on the mature virtues of technique, deception, and finance. The nemesis that followed the
youthful violence of fascism was the Second
World War and its unthinkable surfeit of destruction and death. What nemesis will be brought
abou t by the present energolatreia of the old?
The destiny of Europe will play out in the
biopolitical sphere, at the border between consumerism, techno-sanitarian youth-styled aggressivity,
and the possible collective consciousness of the
limits of the biological (sensitive) organism.
Exhaustion has no place in Western culture,
and this is a problem right now, because exhaustion needs to be understood and accepted as a new
paradigm for social life. Only the cultural and
psychic elaboration of exhaustion will open the
door to a new conception and perception of
wealth and happiness.
T he coming European insurrection will not
be an insurrection of energy, but an insurrection
of slowness, withdrawal, and exhaustion. It will
be the autonomization of the collective body
and soul from the exploitation of speed and

68 I

Tl~e Uoris.r~g On Pcetry and Frnan::e

In the next decade, Europe will make a decisive

choice. Europe now faces a dilemma between two
One path would be to accept a deal that redistributes wealth and resources; that opens Europe's
borders to the crowds coming from Africa and
Asia; that implies a reduction in the Western,
comsumptive lifestyle, heading instead toward a
nongrowth of production and consumption. This
option would not imply the idea of sacrifice and
renunciation, but rather the enjoyment of time
without any expectation of competitive acquisition
and accumulation.
The other would be an intensification of the
interethnic civil war whose first signs are already
visible. The majority of European people are desperately defending the privilege accumulated during
rhe centuries of colonialism, but this privilege has
been deteriorating since the fall of colonialist
empires in the past century, and is now falling
apart in the course of the global recession.
In the game of economic competition, Europe
cannot win. H ow long will it take to reduce a
typical European salary to the level of an Indian,
Chinese, or Vietnamese worker? It's going to take
roo much time and too much violence and blood.
This is why financial markets distrust the euro: if
the standard is capital gain, profit, and competition,
then Europe's decline is guaranteed.

The European Collapse I 69

The question that remains is: who says that

economic competition is the only standard and
political criterion of choice? Bateson would define
the European malaise in terms of a double-bind,
or contradictory injunction. Neoliberal dogma is
dictating European society to compete, and is
simultaneously dictating the destruction of the
structures constituting the cultural and productive
condition of its wealth. The neoliberal idea of
wealth is advancing social misery more and more.
Gregory Bateson suggests that double-binds have
paradoxical outcomes. And the paradoxical
solution for Europe could be to not fear decline.
Decline (reverse growth) implies a divestment from
the frenzy of competition: this is the paradoxical
path that may bring us out of neoliberalism's



Econom ic Science Is Not a Science

At the close of the summer of 2011, the economic
newspapers were talking more and more of a "double dip." Economists predict there will be another
recession before there can be a recovery.
I think they are wrong. There will be a recession-on that I agree-but there will never again be
any recovery, if recovery means a renewal of growth.
If you say this in public, you are regarded as a
traitor, a wrecker, a doomsayer, and economists
scorn you as a villain. But economists are not wise
people. They should not even be considered scientists. They are much more similar to priests,
denouncing society's bad behaviors, asking you to
repent for your debts, threatening inflation and
misery for your sins, and worshipping the dogmas
of growth and competition.

70 I The On Pcetry and Frnance


It is difficult to believe that something like

"economic science" really exists. What is a science?
W ithout embarking on epistemological discussions, I would simply say that science is a form of
knowledge which is free of dogma, which is able to
extrapolate general laws from the observation of
empirical phenomena (and consequently able to
predict something about what will happen next),
and finally which is able to understand those
kinds of changes that Thomas Kuhn has labeled
paradigm shifts.
As far as I know, the discourse named "economics"
does not correspond to this schema.
First of all, economists are beset with dogmatic
notions like growth, competition, and gross national
product, and cl1ey determine that social reality is out
of order when it is not matching these criteria.
Second, economists are totally unable to infer
laws from the observation of reality, as they prefer
instead that reality harmonize with their pretended
laws. As a consequence, they are totally unable to
predict anything, as experience has shown over the
last three or four years.
Finally, economists cannot understand what is
happening when the social paradigm is changing,
and strongly refuse to redefine their conceptual
framework because they pretend that reality has to
be changed in order for it to correspond to their
outdated criteria.

T he faculty and students of economics and

business schools do not teach and learn subjects
like physics or chemistry or astronomy, disciplines
that deserve the title of scientific knowledge, and
which each conceptualize a specific field of reality.
Economics faculty and students rather teach and
study a technology, a set of tools, of procedures, of
pragmatic protocols that are intended to force
social reality into practical purposes: profits, accumulation, power. Economic reality does not exist,
it is the result of a process of technical modeling,
submission, and exploitation.
The theoretical discourse that supports the
economic technology can be defined as ideology,
in the sense proposed by Marx, who was not an
economist, but a critic of political economy.
Ideology is in fact a theoretical technology
aimed at supporting special political and social
goals. And economics ideology, like all technologies,
is not self-reflexive, and therefore is unable to
develop a theoretical self-appreciation and to
reframe itself in relation to a paradigm shift.
Financial Deterritorialization and Labor Precariry
The development of productive forces, the creation
of the global network of cogn itive labor that in
"Fragment on Machines" (Grundrisse) Marx named
"general intellect," has provoked an enormous

Language. Economy. and the Body I 73

increase in the productive potency of labor. This
potency can no longer be semiotized, organized, and
contained by the social form of capitalism.
Capitalism is no longer able to semiotize and to
organize the social potency of cognitive productivity,
because value can no longer be defined in terms of
the average necessary time of labor, and therefore
the old fo rms of private property and salary are no
longer able to semiotize and organize the deterritorialized existence of capital and social labor.
Economists are totally dazzled by this transformation, as economic knowledge has always been
structured according to the paradigm of bourgeois
capitalism: linear accumulation, measurability of
value, and private appropriation of surplus value. T he
shift from the industrial form of production to the
semiotic form of production, the shift from physical
labor to cognitive labor, has projected capitalism out
of itself, out of its ideological self-consciousness.
The bourgeoisie, which was a territorialized class
(the class of the bourg, of the city), was able to manage physical property, as well as a measurable relation
between time and value. The utter financialization
of capital marks the end of the old bourgeoisie, and
opens the door to the deterritorialized and rhizomatic proliferation of economic power relations.
Now the old bourgeoisie has no power anymore,
having been replaced by a proliferating virtual class
(a deterritorialized and pulverized social dust,

74 I Ti1e Uprising: On Poetry and F1nance

rather than a territorialized group of people) that is

usually referred to as "financial markets."
Labor is undergoing a parallel process of pulverization and deterritorialization, that is called
precarity (o r the precariousness of labor). Precarization is not only the loss of a regular job and a
salary, bur it is also the effect of fragmentation and
pulverization of work, the fracture in the relationship between worker and territory. The cognitive
worker, in fact, does not need to be linked to a
place, and his or her activity can be diffused
throughout a nonphysical territory.
The old economic categories (salary, private
property, and linear growth) no longer make sense
in this new situation. The productivity of the
general intellect, in terms of use value (of production
of useful semiotic goods), is virtually unlimited. So
how can semiotic labor be valued, when its products
are immaterial? H ow can the relationship between
work and salary be determin ed? How can we
measure value in terms of time, if the productivity
of cognitive work (creative, affective, linguistic)
cannot be quantified and standardized?
The End of Growth
The notion of growth is crucial in the conceptual
framework of the economic technology. If social
production does not comply with the economic

Language. Eccnamy. and the BO:ii I 75

expectations of growth, economists decree that

society is sick and shivering, and they name rhe
disease "recession." This diagnosis has nothing to
do with the needs of the population, because it
does nor refer to the use-value of things and of
semiotic goods, bur to abstract capitalist accumulation, which is accumulation of exchange value.
Growth, in the economic sense, is not about the
increase of social happiness and satisfaction of the
basic needs of people, bur about the expansion of
financial profits and the expansion of the global
volume of exchange value. Gross national product,
the main indicator of growth, is nor a measure of
social welfare and pleasure, bur a monetary measure.
Social happiness or unhappiness does not
generally depend on the amount of money circulating in the economy, bur rather depends on the
distribution of wealth, and on the balance of
cultural expectations and the availability of physical
and semiotic goods.
Growth is a cultural concept, more than it is an
evaluative economic criterion of social health and
well being. It is linked to the modern conception
of the future as infinite expansion.
For many reasons, infinite expansion has
become an impossible task for the social body.
Since the Club of Rome published the book The
Limits to Growth in 1972, we have been informed
that the physical resources of the planet are not

boundless, and social production has to be redefined according to this knowledge.

The cognitive transformation of production
and the creation of a semio-capitalist sphere have
opened a new possibility for expansion-and for a
few years in the 1990s the economy was able to
expand euphorically, while the Internet economy
was expected to furnish a new landscape of infinite
growth. It was a deception, because even if the
general intellect is infinitely productive, the limits
to growth are inscribed in the affective body of
cognitive work: limits of attention, of psychic
energy, of sensibility. After the illusions of the new
economy (spread by wired neoliberal ideologues)
and the eventual dot-com crash, the very beginning of the new century announced the coming
collapse of the financial economy. Since September
2008, we have known that {notwithstanding the
financial virrualization of expansion) the end of
capitalist growth is in sight.
This could be a curse, if social welfare remains
dependent on the expansion of monetary profits,
and if we are unable to redefine social needs and
expectations. Bur it could become a blessing if we
redistribute social product in an egalitarian way,
if we share existing resources, and if we revise our
cultural expectations to be more frugal, replacing
the idea that pleasure depends on ever-increasing

Language. Econom~. and tne Body I 77


Recession and Financial, Impersonal Dictatorship

Modern culture has equated economic expansion
with futurity, so that for the economists it is
impossible to think the future independently of
economic growth. But this identification has to
be abandoned, and the concept of the future
rethought. The mind of the economist cannot
make the jump to this new dimension and cannot
understand this paradigm shift. This is why the
economy is a mess, and why economic wisdom
cannot cope with the new reality. The financial
semiotization of the economy is a war machine
that destroys social resources and intellectual
skills on a daily basis.
Look at what is happening in Europe. After
centuries of industrial production, the European
continent is rich. It has millions of technicians,
poets, doctors, inventors, specialized factory
workers, nuclear engineers ... So how did we suddenly become so poor? Something very simple
happened. The entirety of the wealth that workers
have produced was poured into the strongboxes of
a minuscule minority of exploiters and speculators.
The whole mechanism of the European financial
crisis is oriented toward the most extraordinary
displacement of wealth that history has ever
known, away from society and toward the financial
class, toward financial capitalism.

78 I The Uprising: On Poetry anci Finance

The wealth produced by the collective intelligence has been drawn away and diverted. The effect
of this displacement is the utter impoverishment of
some of the richest places in the world, and the
creation of a destructive financial machine that
obliterates use-value and displaces monetary wealth.
Recession is the economist's way of semiotizing
the present contradiction between the productive
potency of the general intellect and current financial constraints.
Finance is an effect of the virtualization of reality,
acting on the psycho-cognitive sphere of the
economy. But at the same time, finance is an effect
of the deterritorialization of wealth. It's not easy to
identifY financial capitalists as persons. Finance is
not the monetary translation of a certain amount of
physical goods; it is, rather, an effect of language.
Finance is the transversal function of immaterialization, and the performative action ofindexicality.
Statistics, figures, indexes, fears, and expectations
are not linguistic representations of some economic
referent that can be found somewhere in the
physical world, signifiers referring to a signified.
They are performing indexicals, acts of speech that
produce immediate effects in the very instant of
their enunciation.
This is why, when you go looking for the financial class, you cannot locate someone to talk to, or
negotiate with, or an enemy to fight against. There

Language:. Economy. and the Bx!y I 79

are no enemies or people to negotiate with, bur

only mathematical implications, automatic social
concatenations that you cannot dismantle or avoid.
Finance seems inhumane and pitiless because
it is not human and therefore has no pity. It can
be defined as a mathematical tumor traversing a
large part of society. T hose who are involved in
the financial game are much more numerous than
the property-owners of the old bourgeoisie.
Often unwittingly and unwillingly, people have
been dragged to invest their money and their
futures in the financial game. Those who have
invested their pensions in private funds, those
who have signed mortgages semi-consciously,
those who have fallen into the trap of quick credit have all become part of the traversal function of
finance. They are poor people, workers, pensioners
whose futures depend on the fluctuations of the
stock market that they do not control at all, and
that they do not even understand.
Future Exhaustion and Happy Frugality
Only if we're able to disentangle the future (the
perception and conception of the future, and the
very production of it) from the traps of growth
and investment, will we find an escape from the
vicious subjugation of life, wealth, and pleasure to
the financial abstraction of semio-capital.

80 T, Ur:.s n?. On Pco:lrl and F.nar.o:.e

The key to this disentanglement may be found

in a new form of wisdom which harmonizes with
exhaustion. Exhaustion is a cursed word in the
frame of modern culture, which is based on the
cult of energy and the cult of male aggressivity. But
energy is fading in the postmodern world, for
many reasons that are easy to detect.
Energy is fading because of the demographic
trend: mankind is growing old, as a whole,
because of the prolongation of life expectancy, and
because of the decreasing birth rate. A sense of
exhaustion results from this process of general
aging, and what has been considered a blessingthe prolonged life expectancy-may prove to be a
misfortune, if the myth of energy is not restrained
and replaced with a myth of solidarity and great
compassion. Energy is also fading because basic
physical resources like oil are doomed to extinction
or dramatic reduction. Finally, energy is fading
because competition is stupid in the age of the
general intellect. The general intellect is not based
on juvenile impetus and male aggressivity-on
fighting, winning, and appropriation. It is based
on cooperation and sharing.
This is why the future is over, and we are living
in a space that is beyond the future, If we are able
to come to terms with this postfuturistic condition, we'll renounce accumulation and growth,
and will be happy in sharing the wealth from our

Language. Economy, an:l tre 8o)Qy I 8 1

past of industrial labor and from our present of

collective intelligence.
If we are nor able to do this, we will be doomed
to a century of violence, misery, and war.


Storing Time
Think about the following sentences:
"Give me rime."
"You're wasring your time here."
"I need more rime."

These sentences are meaningless, as they presuppose that rime is something than can be given or
withdrawn, and imply that time is something that
can be gained or lost, possessed and stored.
It is on this kind of absurdity that the economy
is based, a technology aimed at the reification and
the accumulation of time.
Timebank is a sort of tautology, because banks
are essentially about time. What do you store in a
bank? You store time. In a sense, you are storing
your past, and you are also storing your future.
The essential transformation in the passage from
modern bourgeois capitalism to contemporary

82 I The Upnsng: On Poetry and Finance

semio-capitalism was a shift in the perception of

the relation between money, language, and time.
This is my starting point: the relation between
time, money, and language. I say that when you
talk about banks, you're talking about storing ti me.
But all the possible ways of storing and investing are
each linked to changes in the history of capitalism,
and also in the history of the relationship between
capitalism and our life, subjectivity, and singularity.
It's quite difficult to be systematic about time,
so I will not try to be systematic. I will try to find
some reference points that may help us understand
something about our present. What is happening
in our present, from the point of view of time, language, and events? Well, let's have a look at the
European landscape. You see how sad the
European landscape is today.
I noticed that fact several days ago at the Berlin
airport. I was there waiting for my flight, and I saw
an old couple with smiling faces looking at the
timetable, and also a young punk girl with tattoos.
Everybody looked happy except me. I was the only
sad person in the Berlin airport. I had my own
personal reasons to be sad-that's not what I want
to talk about. What is relevant here is that I am
European and not German.
Take the Greeks, for instance. You know how
sad they are, and also how desperate, and angry,
too. But when you do not see any hope in your

Language. Economy. and tile Bocly I 83

present situation, you're angry and desperate.

And the Greeks are angry and desperate. And so
are rhe Portuguese, nor to mention the Irish. They
were happy some years ago, and now, suddenly,
rhey are in a different mood-as are all Europeans,
except Germans.
Do you know why? Because German banks are
full of our time. That's the problem. T he German
banks have stored Greek rime, Portuguese time,
Italian time, and Irish time, and now rhe German
banks are asking for their money back. They have
stored the futures of the Greeks, the Portuguese,
the Italians, and so on. D ebt is actually future
time-a promise about the future. Greeks have
been obliged to promise away their future time,
and they have stored rhar promise in German
Something is wrong with this exchange. You
take my (future) time, and then want my money
back. The crucial mystery, the crucial enigma,
rhe crucial secret in the financial age of capitalism
is precisely this: is the money that is stored in the
bank my past time, (the rime that I have spent in
the past), or is it the money that ensures the possibility of my buying a future? Well, is it a secret or
an enigma?
A secret is something that is hidden somewhere.
You have to know rhe password, you have to find
rhe right key, and then rhe secret will no longer be

84 I TI:e Upns1ng: On Poetry and FimncE:

one. It will become a truth. An enigma is different,

because you cannot find a key. The key is nowhere,
and also the truth is nowhere. So, when we speak
about fi nancial capitalism, when we argue abo ut
the relation between time and fut ure and debt,
are we speaking of a secret, or are we speaking of
an enigma?
I think we are sp eaking of an enigma, because
nobody knows about the future, nobody knows
what is hidden in the future rime of debtors. So the
only way to solve t his enigma is with violence.
Either you pay, or you are our. Either you give
your present rime as payment for rhe fut ure rime
rhar you have stored in German banks, or you'll
become poor. So in order to avoid being expelled
from the European Union, the Greeks and rhe
Portuguese and others are obliged to become poor.
Recession, impoverishment, misery: this is the way
we are paying for our (imaginary) futu re: debt.
Floating Values
Yo u cannot find truth in financial capitalism,
because the essential tool of financial capitalism is
this: truth has disappeared, dissolved. It's no longer
there. T here is no more truth, only an exchange of
signs, only a deterritorialization of meaning. In
Symbolic Exchange and Death, a book p ublished in
1976, Jean Baudrillard says that rhe whole system

Lan\)uag;,, Economy, and the Booy 1 85

is falling into indeterminacy. This is the essential

shift from industrial capitalism to semio-capitalism:
indeterminacy takes the place of the fixed relation
between labor-time and value, so that the whole
regime of exchange falls into an aleatory system of
floating values.
Financial capitalism is essentially based on the
loss of relation between time and value.
In the first pages of Capital, Marx explains that
value is time, the accumulation of time. Time
objectified, time that has become things, goods,
and value. But be careful: not just any kind of
time is relevant in the determination of value, but
the average social time that is needed to produce a
certain good. If you are lazy, or too fast, that does
not matter. What is important in the determination
of value is the average time that is needed to produce a certain good. This was true in the good old
days when it was possible to determine the time
that was needed to produce something. Then
things changed: all of a sudden, something new
happened in the organization of work, and in production technology, in the relation between time,
work, and value. Suddenly, work is no longer the
physical, muscular work of industrial production.
There are no longer material things, but signs; no
longer the production of things which are tangible
visible materials, but the production of something
that is essentially semiotic.

86 / Tile Upns,ng: On Poetry and Finance

When you want to establish the average time

that is needed to produce a material object, you
just have to do a simple calculation: how much
physical labor time is needed to turn matter into
that good. It's easy to state this, to decide how
much time is needed to produce a material object.
But try to decide how much time it takes to produce
an idea. Try to decide how much time is necessary
to produce a project, a style, an innovation. Well,
you see that when the process of production
becomes semiotic, the relationship between labortime and value suddenly evaporates, dissolves into
thin air. Baudrillard was the first thinker who
understood and described this passage.
Baudrillard wrote Symbolic Exchange and
Death in 1976 . But some years before that, US
President Richard Nixon did something that
changed the world. The presidents of the US in
those times were like prophets, not because they
predicted the future zeitgeist, but because they
were powerful enough to imprint their will, or
the will of American capitalism, onto the future.
And Nixon did something very, very important
as far as changing the future went. Well, he
decided to free the dollar from the gold standard.
He decided that the gold-standard system and
the Bretton Woods system, based on a fixed relation
between different currencies, was over. Since then,
the dollar has been free from any fixed standard.

Langu3ge. Economy, and the Body / 87

Independent, autonomous-or better, aleatory.

Floating, undetermined.
Something aleatory is something that cannot be
predicted, fixed, or determined in any way. Latin
uses the word ratio in order to describe the fixed
relationship, the standard, the measure. And in
philosophical parlance, ratio refers to the universal
standard of understanding things: reason.
After Nixon's decision, measurement ended.
Standardization ended. The possibility of determining the average amount of time necessary to
produce a good ended. Of course, that means that
the United States of America, its president,
Richard Nixon, decided that violence would take the
place of measurement. In conditions of aleatority,
what is the condition of the final decision? What is
the action or process of determining value?
Strength, force, violence. What is the final way of
deciding something-for instance, deciding the
exchange rate of the dollar? Violence, of course.
Give me time.
The conjuncture between violence and the
financialization of capitalism is not a casual and
extemporaneous one. It's absolutely structural. There
can be no financial economy without violence,
because violence has now become the one single
method of decision in the absence of the standard.
I will here pause in my elaboration of financial
capitalism, but I want to come back to this subject

88 I Tt1e Upnsing: On Poetr; and Ftn3nce

at the end of this chapter. But first I want to say

something now about time, forgetting, and the
bank, if I can.
Fascism Femininity Futurism
We are accustomed-! say "we," meaning my
generation, the last modern generation-we are
accustomed to thinking about time in terms of
progress, an endless process of growth, and also in
terms of perfectibility.
The old, modern conception of futurity is
crucial in understanding the way modernity has
thought about time. The best definition of modern
time you can find is in Marinetti's manifesto of
1909, "The Futurist Manifesto." Time is crucial to
"The Futurist Manifesto." Even, when the futurists
speak of despising "the woman," they are also
speaking about time.
What is time in "The Futurist Manifesto"? The
manifesto understands time as acceleration, and
views acceleration as a process of increasing potency.
This conception of acceleration is new in the
history of thought and in the history of art. The
idea that one's perception of time can be changed
was already there in Impressionism and in
Cezanne, but only in the sense of deceleration, in
the sense of a becoming-slow of vision. Let's us not
forget that Cezanne has a lot to do with Henri

Language. Economy, and the Body / 89

Bergson, who translated the concept of time into

the concept of duration. Bergson speaks of time in
terms of perception, not extension. This is why
Bergson is the philosopher who best interprets
impressionist and symbolist poetics, as well as
those of futurism. Because Bergson was offering a
new perspective on time; he was speaking of time
in terms of subjective duration, not in terms of the
universal category of the human mind.
This is the crucial change from the classical age
of bourgeois representation to the late-modern
crisis and proliferation of viewpoints and streams
of perception and consciousness.
The possibility of different intensities in temporal
perception was introduced by Bergson and
Cezanne, but especially by Marinetti and the
Italian futurists.
While the Russian futurists were more interested
in time from the point of view of their literary
and artistic production but were less explicit in
their poetics declarations, Italian futurists were
trying to speak about time from the point of
view of acceleration. And they said something
that Paul Virilio has fully explained in h is latecentury books: velocity and acceleration are the
modern tools of potency; industrial, political,
and military potency are based on velocity in the
late-modern age. Masculine potency is essentially
perceived by Italian futurists as a problem of

90 I TI1e LJo,is ng: On Poetry and F nan::e

acceleration and we must not forget that Italian

modernity was very concerned with the problem
of the masculinization of perception: of time, of
politics, of power.
One cannot understand Italian fascism if one
doesn't start from the need for a defeminization of
cultural self-perception. Italian fascism is based on
despising the woman. Contempt for the woman is
one of the crucial points of "The Futurist
Manifesto," but it's also one of the crucial points of
the creation of the ridiculous, miserable national
pride of the Italians. Italians h ave always regarded
themselves from a feminine perspective. The greatness ofltalian culture is femininity, Mediterranean
sweetness, taste for life, tenderness, and slowness.
If you read Italian poetry- Dante, Petrarch,
Torquato Tasso, Giacomo Leopardi, Ugo Foscolo-it always speaks of Italy as a beautiful woman, as a
feminine body, sometimes a wounded or suffering
one (Petrarch: My Italy, though words cannot heal I

The m01tal wounds I So dense, I see on your lovely

flesh ... ), but also one with a feeling of pleasure and
brightenjng. When being Italian was not shameful
like it is today, Italy's self-identification was feminine.
T hen something happened: nationalism, war,
industrial competition arrived, and the main concern of Italian national culture became destroying
this feminine self-perception, and affi rm ing
aggressivity and ludicrous masculinity: fascism is

Language. Economy, ar j ihs Bod1 / 91

the turning point from feminine self-perception to

masculine assertiveness. In the nineteenth century,
Italian national culture became ashamed of the
peaceful femininity of Mediterranean people,
and began inoculating itself with testosterone.
The result is a farcical show of aggressivity that is
perfectly embodied by such murderous, cowardly
clowns as Mussolini and Berlusconi.
When you speak of German fascism, it's not fake.
It's not ridiculous, it's not funny. It's criminal,
murderous, horrible, but not funny. But there is
something that sounds false in Italian history.
National pride, military aggressivity, industrial
growth, and so on: all this is fake. This is why Italian
fascism is often perceived as a farce, when unfornmately it was not. It was a farce, but a tragic and criminal
farce, that provoked war, death, and devastation.
As far as time goes, Italian fascism was about
forgetting laziness, slowness, and Mediterranean
sensitivity, and affirming a different perception of
time, one based on acceleration.
The feminine perception of]apanese identity is,
in many ways, similar to the Italian one. And the
modernization of the Meji restoration was based
first of all on the defeminization of Japanese
culture. Think, for instance, of the elimination of
women in the environment of the emperor. From
one day to the next, after 1870, women disappear
and warriors appear, and the emperor has to

92 1 The Uprising: On Poetly and Finance

become a true man. That kind of hysteria, the

ridiculous, crazy, murderous hysteria of Italian and
Japanese fascism, comes as a consequence of the
denial and forced obliteration of the feminine side
of those cultures.
Italian futurism is a good essential introduction
to the twentieth century, because the twentieth
century can be defined as the century that trusted
in the future. Futurism asserted the idea that the
future was the better dimension of time, not the
past. When in fact, futurism is all about the
destruction of the past, and the emphasis on and
glorification of the future.
Now the glory of the future is over. We no
longer trust the future, as the futurists-and the
moderns, in general-did. What has happened?
I want to focus on the crucial year 1977. I think
that 1977 is especially important for many reasons.
Don't forget that 1977 is the year when Charlie
Chaplin dies. The death of that man, in my perception, represents the end of the possibility of a
gentle modernity, the end of the perception of
time as a contradictory, controversial place where
different viewpoints can meet, conflict, and then
find progressive agreement. Charlie C haplin is the
last man of modern times-the age of the

Language, Economy. and the Bc{ly I 93

machine, the horrible machine, coming into daily

life and destroying daily life, but also the age of
social conflict, of social consciousness, of solidarity.
Charlie Chaplin is the man on the watch tower,
looking at the city from a perilous vantage point,
looking at the city of time, but also at the city
where time can be negotiated and governed.
In 1977, C harlie Chaplin died. But I also
want to remember that 1977 is the year when
Steve Jobs and Steve Wozniak, in their small
garage in Silicon Valley, created the user-friendly
interfaces for the digital acceleration and mandatory
unification of time. The Apple trademark was
registered in 1977.
That same year, the Metropolitan Indians rioted
in the streets of Rome and Bologna; and on the
banks of the Thames in the Queen's Jubilee, a
group of young British musicians for the first time
cried no future. Don't think about your future. You
don't have one. What Sid Vicious and the other
Sex Pistols screamed and declared in 1977 was the
final premonition of the end of modern times, the
end of industrial capitalism, and the beginning of
a new age, which is an age of total violence: financial
globalization, deregulation, total competition,
infinite war.
If capitalism wants to continue to exist in the
history of mankind, then the history of mankind
has to become a site of total violence, because only

94 I TI1e Up:ising: On Poetry and F:nance

violence is decisive. Beginning in 1977, the word

"competition" becomes the crucial term for economists. I don't know if economics can be considered
a science. I don't think it can. I think it is a technology. It is a technology whose aim is the transformation of time into labor, and labor-time into value,
and the transformation of our relation with nature
into one of scarcity, need, and consumption.
But since 1977, the project of the science of
economics (or technology, I don't know) is the submission of human relationships to one single goal:
competition, competition, competition. Now
"competition" has become a natural word, a normal
word. This is not right, because "competition"
means violence, war.
This is the meaning of competition. Otherwise,
you forget the meaning of words. You forget that
competition equals war. Deleuze and G uattari, in
A Thousand Plateaus, cry to define fascism, and
they say: fascism is when a war machine is hidden
in every niche, when in every nook and in every
cranny of daily life a war machine is hidden. This
is fascism.
So I would say that neoliberalism is the most
perfect form of fascism, in terms of Deleuze and
Guattari's definition. Competition is the concealment of a war machine in every niche of daily life:
the kingdom of competition is fascism perfected.

Language, Economy. and the Body I 95

I want to say something about semio-inflation,
about the special kind of inflation that happens in
the field of information, of understanding, of
meaning, and of affection.
William Burroughs said that inflation is essentially when you need more money to buy less
things. I say that semio-inflation is when you need
more signs, words, and information to buy less
meaning. It is a problem of acceleration. It is a
kind of hyperfuturism when the old accelerative
conception of the future is the crucial tool for the
capitalist goat.
Karl Marx has already said something similar.
When Marx speaks of productivity, and of relative surplus value, he's speaking about acceleration. H e says that, if you want to obtain a growth
in productivity, which is also a growth in surplus
value, you need to accelerate work time. But at a
certain point acceleration steps and jumps to
another dimension, to what Baudrillard would
call hyperacceleration.
The acceleration of productivity in the sphere
of industrial production is about intensifying the
rhythm of the machine so that workers are forced
to move faster in manipulating physical matter
and producing physical things. When the main
tool of production begins to be cognitive labor,

96 I Ths Upns1ng: On PcetY ar.d Finance

then acceleration enters another phase, another

dimension. Increasing productivity in the sphere
of semio-capitalism is essentially a problem of
accelerating the infosphere.
In the sphere of semio-capital, if yo u want to
increase productivity, what you have to do is
accelerate the infosphere, the environment where
information races toward the brain.
What happens, then, to our brain-to the
social brain? Cognition takes time. Think of what
attention is. Attention is the activation of physical
reactions in the brain, and also of emotional,
affective reactions. Attention cannot be infinitely
accelerated. This is why the new economy has
failed, at the end of the 1990s, after a long period
of constant acceleration.
At the beginning of the last decade, in the year
2000, the dot-com crash was the consequence of an
overexploitation of the social brain. After the explosion of the Internet bubble, suddenly several books
about the attention economy appeared in bookstores.
All of a sudden, the economists became aware
of the simple fact that the market of the semiocapitalist world is a market of attention. Market
and attention had become the same thing. The
crisis of 2000, the dot-com crash, was the effect of
an overproduction in the field of attention.
Marx speaks of an overproduction crisis: if
you produce too much of a certain good, people

Language. Economy. anj the Bod;' 1 97

cannot buy all those things, and the goods will

remain in the stores, unsold. So, the capitalist
begins firing workers, because he does not need any
more production, and this worsens the situation.
This is the overproduction crisis in the framework
of industrial capitalism. What is the overproduction
crisis when we enter the phase of semio-capital?
The overproduction lies in the relation between the
amount of semiotic goods produced by cognitive
labor and the amount of time that is disposed of.
A society's total quantity of attentive time is not
boundless, because attention cannot be accelerated
past a limit. One can accelerate one's attention;
one can take amphetamines, for instance. We have
techniques and drugs that give us the capability of
being more productive in the field of attention. But
we know the problem with that. You know how it
ends. The 1990s were the dot-corn era, the age of
increasing productivity, increasing enthusiasm for
production, increasing happiness of intellectual
workers. But the 1990s were also the decade of
Prozac mania. One cannot understand what Alan
Greenspan calls "irrational exuberance" without
taking into account the simple fact that millions of
cognitive workers took tons of cocaine, amphetamine, and Prozac during the 1990s.
This can work for a time, and then it ends. All of
a sudden, from one day to the next, after the excitement and the acceleration, comes the apocalypse.

98 1 The Upris1ng: On Poetry and F1nance

Do you remember the night of the turn of the century, when everybody was waiting for the Y2K
bug? I was in front of my TV, waiting for the final
collapse, and nothing happened. Nothing. It was
the most horrible night of my life. I had staked all
my credibility on promising everyone that that night
would be the final one of our lives, and nothing
happened at all, nothing. But there was an expectation of collapse in the air. How can we explain
that expectation?
The collapse did not have to do with the millennium bug. The collapse represented the fall of
the Prozac-fueled excitement in the social brain of
the cognitive workers all over the world. When
Alan Greenspan, in those months, said, "I feel an
irrational exuberance in the markets," he was not
speaking about the economy. He was speaking
about the Prozac crash . He was speaking about
the end of the cocaine high in the social brain of
millions of cognitive workers.
What happened next? Well, the next step was
an overproduction crisis in the field of semiocapitalism . In the first years of the century-2000,
2001-the problem was the perception of the
coming collapse of capitalism, of the world economy.
Then September 11th arrived, and overproduction
became the solution to everything. Only a mad

Lar.guage, Economy, anc! tl<e Booy I 99

doctor would prescribe amphetamine to a depressed
person, to a depressed organism. But that is exactly
what happened after September 11th. T he cognitive workers' organism, depressed for chemical and
economic reasons, was submitted to the amphetaminic therapy of war by the mad doctor George
Bush. The doctor was mad, and the result of this is
now here: the infinite war.
Doctor Bush did not want to win the war. H e
was totally indifferent to winning or losing the
war. It was so eviden t that starting a war in a place
like Afghanistan, with an ally like Pakistan, is
crazy, and a surefire way to lose. But the problem
was not one of winning or losing: the problem
concerned starting a war that would never end.
Infinite war is a sign of the kind of craziness that
is a symptom of the inflation of meaning. More
and more signs are buying less and less meaning.
What does one need when experiencing semioinflation, when the infosphere starts moving faster
and faster, and one's attention is unable to follow?
What is needed is some sort of dispositive to make
things easier, a dispositive to reduce the speed of
the infosphere. It is a problem of time, acceleration,
and deceleration: it is a problem of easification.
The end of modernity began with the collapse
of the future, with Sid Vicious screaming no future.
But postmodern history, as far as we have known,
has been the history of a techno-linguistic machine

100 I Tile Uprising: On Poetry and Fu1an::e

which has increasingly penetrated every recess of

daily life, every space of the social brain.
The techno-linguistic machine is giving language
to human beings, and also raking the place of human
beings in language for the current generation.
The first generation that learned more words
from a machine than from their mothers has a
problem concerning the relationship between
words and the body, between words and affection.
The separation of language learning from the body
of the mother and from the body in general is
changing language itself, and is changing the relation between language and the body. As far as we
know, throughout human history access to language has always been mediated by trust in the
mother's body. T he relation between the signifier
and the signified has always been guaranteed by
the body of the mother, and therefore by the body
of the other.
I know that water is "water" (actually, since I
learned from my mother how to speak in Italian, I
know that acqua is "acqua'') because my mother, not
a machine, told me "this is acqua." I know that the
signifier points to the signified. My mother told me
acqua, and I trust her body. What happens to the
relation between language and desire when access to
language is disconnected from the body?
When the relation between the signifier and the
signified is no longer guaranteed by the presence of

Language. Economy. and the Bocly / 101

the body, my affective relation to the world starts

to be disturbed. My relation to the world becomes
functional, operational-faster, if you will, but
precarious. This is the point where precariousness
starts. At the point of disconnection between
language and the body.




Three Levels of Abstraction

In Marx's writings, abstraction is the main trend of
capitalism, the general effect of capitalism on
human activity. Marx means the abstraction of
value from usefulness (use value), and the abstraction of productive work from concrete forms of
human activity.
But in the sphere of semio-capitalism, two new
levels of abstraction appear, as developments of the
Marxian abstraction.
What does abstraction mean?
When Marx talks about abstract labor, he is
referring to the separation of a worker's activity from
concrete usefulness, which is what happens under
capitalism. The use-value of the worker's product is
only a step toward the real thing, which is value,
which is surplus value. So the capitalist does not care

102 I The Upns1ng On Poet1y ancl Finance


if his work is producing chickens or books or cars ...

He cares only about this: how much value his work
can produce in a given unit of time. This is the
beginning of the process of capitalist abstraction.
In the late-modern phase of capitalism, digital
abstraction adds a second layer to capitalist
abstraction: transformation and production no
longer happen in the field of bodies, and material
manipulation, but in the field of interoperativity
between informational machines. Information
takes the place of things, and the body is cancelled
from the field of communication.
We then have a third level of abstraction, which
is financial abstraction. Finance means that the
process of valorization no longer passes through
the stage of use value, or even the production of
goods (physical or semiotic).
In the old industrial economy described by
Marx, the goal of production was already the
valorization of capital, through the extraction of
surplus value from labor. But in order ro produce
value, the capitalist was still obliged to exchange
useful things; he was still obliged to produce cars
and books and bread.
When the referent is cancelled, when profit is
made possible by the mere circulation of money,
the production of cars, books, and bread become
superfluous. The accumulation of abstract value is
made possible through the subjection of human

104 I The Upris,ng: On Poetry and F1nance

beings to debt, and through predation on existing

resources. The destruction of the real world starts
from this emancipation of valorization from the
production of useful things, and from the selfreplication of value in the financial field. The
emancipation of value from the referent leads to
the destruction of the existing world. This is exactly
what is happening under the cover of the so-called
financial crisis, which is not a crisis at all.
In his book Data TrdSh (1994), Arthur Kroker
and Michael A. Weinstein write that in the field of
digital acceleration, more information means less
meaning. In the sphere of the digital economy, the
faster information circulates, the faster value is
accumulated. But meaning slows down this
process, as meaning needs time to be produced and
to be elaborated and understood. So the acceleration
of the info-flow implies an elimination of meaning.
In the sphere of the financial economy, the
acceleration of financial circulation and valorization implies an elimination of the real world. The
more yo u destroy physical things, physical
resources, and the body, the more you can accelerate
the circulation of financial flows.
In Greek, parthenos means virgin. Jesus Christ
was created by parthenogenesis. T he Virgin Mary
gave birth ro her son without any engagement in
the reality of sex. The financial economy (like conceptual art) is a parthogenetic process. Actually, the

TIe General Intellect Is Looking for a Body I 105

monetization and financialization of the economy

represent a parrhogenizarion of the creation of
value. Value does nor emerge from a physical
relationship between work and things, but rather
from rhe self-replication of the parrhogeneric force
of finance.
As M aurizio Lazzarato points out in his book
The Making ofthe Indebted Man, labor is no longer
dominated by the physical force of power, but by
rhe abstract force of finance: debt.
Digital abstraction leads ro the virrualizarion of
the physical act of meeting, and the manipulation
of things. Financial abstraction leads to the separation of rhe circulation of money from the production process of value itself.
These new levels of abstraction nor only concern the labor process-they encompass every
space of social life. Digitalization and financializarion
have been transforming the very fabric of rhe social
body, and inducing mutations.
The process of production is merging in the
infosphere, and rhe acceleration of productivity is
transforming into an acceleration of the information
flows. Mental disorders and psychopathologies are
symptoms of this dual process of virtual derealization
and acceleration.
Digital abstraction, and the virrualization of
social communication in general, has so deeply
transformed rhe social environment that the

106 I TI1e Upnstng: On Poewy and Fn1a11ce

cognitive processes of learning, speaking, imagining,

and memorizing are affected.
In the sphere of neoliberal capitalism, because
of the capture of feminine nervous and physical
energies by the machinary of global exploitation,
mothers are less and less the source of language:
they are separated from the bodies of children by
salaried labor, by rhe networked mobilization of
their mental energies, and also by the globalization
of the affective marker. Millions of women leave
their children in Manila and Nairobi and go to
New York or London to look after the children of
cognitive workers who leave their own children at
home to go to offices.
M others are replaced by linguistic machines that
are constantly talking and showing. The connective
generation is learni ng language in a framework
where the relation between language learning and
the affective body rends to be less and less relevant.
What are the long-term effects of this separation of language from the mother's body? What
are the long-term effects of the automation of
language learning?
I have no final answers to these questions, and
we cannot yet draw final conclusions about the
self-consciousness of the fi rst connective generation, which is now entering the scene of the world.
The movements erupting in Europe and in the Arab
world may be the first glimpses of a long-term

Tt1e General lnte1 1ect Is Locktng iot a Botly I 107

process of self-organization by the precarious,

connective generation around the world. Who
knows what the future holds?
Over the last decade psychosocial research and
the phenomenology of art, cinema, and novels has
revealed a growing fragility of the affective relation,
and an increase in mental pathologies: attention
deficit disorders, depression, panic, and suicidal
behavior have been rising in the collective experience
of the new generation.
The literary and artistic phenomenology of the
first decade of this century has told a story of
creeping disease in the psychosphere. The
Corrections by Jonathan Franzen, Elephant by Gus
Van Sant, Time by Kim Ki Duk, The Social
Network by David Fincher, No One Belongs Here
More Than You by Miranda July, We Have a Pope
by Nanni Moretti-to name just some of the
books and films that seem to me to have grasped
the innermost sentiment of the decade-all display
a landscape of psychic breakdown.
In their book Les passions tristes (The sad passions), Miguel Benasayag and Gerard Schmit retrace
their experience as psychoanalysts who have been
working for many years in the banlieux of Paris
among young people. In their account, the very
perception of the future has changed among the
young banlieusards, in that the future is no longer
conceived as promise, bur as a threat. T he field of

108 /lre Upns1ng: On Poetry and F1nance

desire has been invaded by anxiogenous flows: the

acceleration of the infosphere has expanded expectations, semiotic stimulation , and nervous excitement
up to the point of collapse.
Desire and Money
Desire and money have a controversial relation.
Money is about buying; desire is about creating.
Deleuze and Guarrari's decisive move, going back
to their first collaboration, Anti-Oedipus, was to
draw a conceptual distinction between desire and
need. Desire should not be seen as a condition of
scarcity, of manque; rather, it has to be seen as an
enhancer of vision, as a creative activity.
When money takes the lead in the psychic
investment of society-as in the aftermath of the
neoliberal triumph- desire takes a paradoxical
turn and starts to produce need, scarcity, and
misery. The effect of fin ancial abstraction is the
constant deterri torialization of desire. In the traps
of advertising and consum erism, desire is dragged
into a relation of dependence with the fi nancial
machine. In the 1990s, the credit card system
invested American desire, opening the way to the
deceptio n of boundless consumption. T he economic investment of desire was the original
fo unt of the virtual economy in the 1990s, and
then the explosion of the dot-com bubble in

Tne Ger>erallnte"ect Is Lvcivr.g rc.: a &YJy / 109

2000 precipitated a short-circuiting of desire into

panic and depression.
Since September 2008, Americans have been
suffering the backlash: unemployment, urban
misery, social spending cuts, infrastructure decay.
The financial ideology is thriving in the context
of social precariousness. When the prospects are
uncertain, you are invited to bet on the future.
Lottery, net trading, risk-taking- these are the
opportunities financial capitalism is offering everybody. Bubbles grow, then bust, and the vast majority
of people lose their money. You can use your credit
card to its limit and beyond, betting on future
revenues that will not arrive. You are debtor to a
bank that is thriving thanks to your being
deceived. Transforming desire into need, the
financial investment of desire paves the way to
dependency and misery.
The modern bourgeoisie was a strongly territorialized class, linked to material assets; they were a
class acutely conscious of their relation with territory and community. Their wealth and prosperity
were based on the ownership of physical assets:
factories, houses, goods stored in warehouses. The
well-being of workers was essential to the creation
of a mass market and the thriving of bourgeois
The industrial bourgeoisie exploited workers
with the goal of developing society, and developed

110 Th:: Up,sng. On Pcetr:f and


society in order to extract surplus value from

workers. The revenue of the financial class, on the
contrary, is not linked to the actual enrichment of
the territory, of the city, of the bourg. When the
bourg goes global, the bourgeoisie disappears, and
bourgeois morality dissolves. The bourgeois
unconscious was based on the separation of work
and desire, on repression of the sexual drive and
postponement of pleasure.
At the end of the bourgeois era, in the aftermath of financial capitalism's triumph, desire
invades the space of the market, and the market
invades the space of desire. Work and self-realization have to merge in the new economic vision:
individuals have to become free agents. There is no
longer a distinction between life time and work
time: all of your time has to be devoted to earning
money, as money has taken the place of desire.
As the Italian psychoanalyst Massimo Recalcati
has pointed out in L 'uomo senza inconscio (Man
without unconscious; 201 0), in the finanical era
the social unconscious explodes, as it is everywhere. Deterritorialization becomes the perpetual
condition of money and of desire.
The financial class that dominates the contemporary scene has neither attachments to territory
nor to material production, because its power and
wealth are founded on the total abstraction of a
digitally multiplied finance. This digital-financial

The General Intellect Is Lookn1g tor a Body 1 111

hyperabstraction is liquidating both the living

body of the planet and the social body.
One of the most important effects of the Internet
in the economy has been the diffusion of online
trading among young professionals and cognitive
workers: this countless proliferation of investors
ensures the impossibity of finding a relationship
between personal responsibility and the social
effects of an investment. More and more often,
the economic stake of a financial investment is
negative, destructive of concrete resources. You
can bet on the closure of a factory, the firing of
workers, the death of people; you can bet on the
spread of a disease. The financial economy can
act, and is acting more and more, as a counterproductive force, as the accumulation of money is
becoming completely abstracted from the actual
creation of use-value.
When the dot-com economy crashed in the first
months of 2000, many thought that the virtual
world was doomed to decay. Actually, things have
turned out differently: the nonexistent world
evoked by digital technology has not dissolved, the
Internet is here to stay, and the virtualization of
social communication did not stop in 2000.
But in 2000, the dot-com crash marked an
irreversible turn in the social relation between financial capital and cognitive work. Cognitarians, who
had been able to create enterprise, were disowned

11 2 1 The Uprising: On Poetry ancl Fnance

and separated from financial power, and finally

consigned to the role of a precarious work force.
The digital mobilization of desire, the acceleration of the infosphere, the overloading of collective
attention, and an overuse of psychopharmaceutical
stimulants were the psychic triggers of the dot-com/
Prozac crash, and that crash opened the door to the
disempowerment of cognitive labor. The dismantling of the general intellect began in the agonies of
the dot-com Prozac crash. The euphoric decade of
C linton's imperial illusion gave way to a decade of
infinite war, global terror, and suicide. The financial
collapse of 2008 is the predictable conclusion of this
age of financial Ersatz, but the financial class does
not want to recognize the failure, and a dangerous
doubling-down on neoliberal monetarist policies is
being enforced everywhere around the world.
The ideology that fostered the Internet in the
1990s was based on a premise of infinite energy,
infinite expansion, infinite resources. The old
economy-the economy of the old industrial
times-was based on a premise of scarcity, as it was
based on material resources that could be exhausted.
The new economy, instead, was envisioned as a
long, unending boom by Peter Schwartz and Peter
Leyden, the Wired ideologues. This idea was based
on the premise of the infinite potency of the net.
Because the net is an ever-expanding sphere of
im material substance (information), because

The General


Is Looi<lng for a Body I 113

intellectual productivity is not limited by material

constraints, the networked economy was expected
to last forever and to provoke an everlasting expansion of market and value.
Only one of these premises was true: the net
actually is an ever-expanding space, but the infinity
of mental energy was an illusion. The wired ideology
has proven false because the ideologues did not
consider the limits of the subjective side of the
econ omy. The attention market went into overload,
resulting in a semiotic overproduction. And the
global mind went crazy because individual brains
and individual bodies are not capable of limitlessly
going faster and faster and faster. The exhaustibility
of psychic resources is the intrinsic limit of the
cybersphere. The dream of the networked economy's endless boom broke because psychic energy is
not boundless, because the physical resources of the
planet are not boundless, and because the infinite
potency of the networked collective intelligence is
limited by the finitude of psychic energy.


(The Logic of Ersatz in Fincher's Facebook Movie)

Financial capitalism and precarious work, loneliness, suffering, and the atrophy of empathy and
sensibility: this is the subject of David Fincher's

114 I T11e Up:is1ng: On Poetry and F1nance

excellent movie, The Social Network. The story is

about the creation and early diffusion of the social
network Facebook, about one enterprise in the age
of finan cial semio-capitalism. But the focus of the
movie shifts to the psychological side of the evolution
of the Internet, in the context of the info-acceleration
and stimulus-inten sification that broadband
technology has made possible. Love, friendship,
affection- the whole sphere of emotionality is
invested by the intensification of the rhythm of
the infosphere.
Although the narrative concerns the beginnings
of Facebook, and the ensuing legal conflicts and
trials correspond to the real story, biographical
details in the film (for instance, the end of a love
affair in the first scene of the movie) are not necessarily factual, but are useful fo r a full understanding
of the affective side of the social life of the cognitarian labor force.
The main ch aracter of the film, Mark Z uckerberg, may obviously be described as a winner: he is
the youngest billionaire in the world, and he owns
a company that in only a few years has become
well-known worldwide with five-hundred million
subscribers. Nonetheless, it is difficult to see him
as a happy person, and he can be described as a
loser if yo u consider his rela tionships with
women and colleagues. Friendship seems impossible
for him, and the success of his website is granted by

ne G9n8ral lnte!lect Is Loomg fo a B0d1 1 115

the artificial substitution (Ersatz) of friendship and

love with standardized protocols. Existential unhappiness and commercial success can be viewed as two
sides of the same coin: Fincher's movie very skillfully
interprets the psychological needs of Zuckerberg's
generation by portraying loneliness and affective
frustration as his intimate psycho-scape.
Desire is diverted from physical contact and
invested in the abstract field of simulated seduction,
in the infinite space of the image. The boundless
enhancement of disembodied imagination leads to
the virtualization of erotic experience, infinite flight
from one object to the next. Value, money, financial excitement: these are the perfect forms of this
virtualization of desire. The permanent mobilization of psychic energy in the economic sphere is
simultaneously the cause and the effect of the virtualization of contact. The very word "contact" comes
to mean the exact opposite of contact: not bodily
touch, not epidermic perception of the sensuous
presence of the other, but purely intellectual intentionaliry, virtual cognizability of the other. It is hard
to predict what sort of long-term mutation is
underway in human evolution. As far as we know,
this virtual investment of desire is currently provoking a pathogenic fragilization of social solidarity
and a stiffening of empathic feeling.
The genius of Zuckerberg essentially consists in
his ability to exploit the suffering of the crowd, the

116 / Th; Uccs:nq: On Pceuy and F'nance

miserable energies of collective loneliness and frustration. The origin al idea for the website came
from two rich Harvard twins named Tyler and
Cameron Winklevoss, who wanted to hire
Zuckerberg as a programmer. Zuckerberg pretends
to work for them, but actually takes hold of their
idea, although he is much more capable than they
are in terms of linking the project to the psychic
needs arising from contemporary alienation.
Did Zuckerberg steal the idea from these two
undergraduates? Yes and no. Actually, in the network
it's impossible to clearly distinguish the different
moments of the valorization process, because the
productive force of the net is collective, while profits
are private. Here we find the irremediable contradiction between the collective intelligence of the net
and the private appropriation of its products,
shaking the very foundation of semio-capitalism.
The movie presents an interesting perspective
on life and work in the age of precarity. The word
"precarious" means aleatory, uncertain, unstable,
and it refers not only to the uncertainty of the
labor relation, but also to the fragmentation of
time and the unceasing deterritorialization of the
factors of social production. Both labor and capital,
in fact, no longer have a stable relation to territory
or community. Capital flows in the financial circuits,
and enterprise is no longer based on territorialized
material assets, bu t on signs, ideas, information,

The General Intellect Is Lool-ing for a Body 1 11 7

knowledge, and linguistic exchange. Enterprise is

no longer linked to terri tory and the work process
is no longer based on a community of workers,
living together in a factory day after day, but
instead takes the form of an ever-changing recombination of time fragments connected in the global
network. Cognitive workers do not meet in the
same place every day, but remain alone in their
networked cubicles, where they answer to the
requests of ever-changing employers. The capitalist
no longer signs agreements in order to exploit the
productive energies of the worker during his overall
working life. He no longer purchases the entire
availability of the worker. He hires a fragment of
available time, a fractal, compatible with the protocols of interfunctionality, and recombinable with
other fragments of time.
Industrial workers experienced solidarity
because they met each other every day and were
members of the same living community who shared
the same interests, while the Internet worker is alone
and unable to create solidarity because everybody is
obliged to compete in the labor market and in the
daily fight for a precarious salary. Loneliness and
lack of human solidarity not only characterize the
situation of the worker, but also that of the entrepreneur. The border separating labor and enterprise is
confused in the sphere of cognitive work. Although
Mark Z uckerberg is a billionaire, the way he

118 I The Upris1ng: On Pcetry and F1nance

spends his work day is not dissimilar to the way his

employees spend theirs. T hey all sit in front of
computers and type on keyboards.
T he main character of the movie-the
Zuckerberg portrayed by Fincher-has only one
friend : Edouard Severin, who becomes the
financer of the initial Facebook enterprise. When
the growth of the enterprise demands new
financers, Z uckerberg does not hesitate to betray
his only friend.
T his is not only characteristic of personal relations in the financial world, but is unfortunately
also characteristic of relations between workers.
Although the movie portrays a billionaire, it also
tells the story of the social condition of labor: the
impossibility of friendship in the present condition
of the virtual abstraction of sociality, and the
impossibility of building solidarity in a society that
turns life into an abstract container of competing
fragments of time.


Once upon a time, I happened to take part in an

action of the Living T heater. In an old Italian theater,
some hundred people met for a collective mantra:
an emission of harmonic sounds, shared breathing,
and shared sound which lasts in time thanks to a

n-e G~;nsral lnt51 1ectls Lc:::l-ing for a Booy I 119

vocal wave which goes from one mouth to the

next, fro m one body to the next. I want to elaborate on the mantra as a form of composing the
insurgent movement.
Let's consider the social relation from the point of
view of harmony and disharmony among breathing
singularities. Organisms meet, conflict, interact in
common space. The wisdom of the Hindu yogin
conceives of individual breathing (atman) as a relation of the organism with cosmic breath (prana) and
the physical surrounding environment.
Physical organisms interact with the natural
environment, with the city, the factory, the air.
Psychic organisms also interact with the infosphere,
the environment where info-stimulae circulate,
influencing psychic reactions.
In late-modern times, we experience a growing
pollution of air, water, and food. Industrial fall out
is provoking an increase in asthma, lung cancer,
and respiratory diseases. But there is another kind
of pollution which concerns the psychic breathing
of individual and collective organisms. Semiotic
flows which are spread in the infosphere by the
media system are polluting the psychosphere and
provoking disharmony in the breathing of singularities: fear, arudety, panic, and depression are the
pathological symptoms of this kind of pollution.
Let's understand how singularities are linking in
the social-psychic becoming. Concatenations

120 I The Upns,ng: On Poetry and Finance

between conscious and sensmve organisms can

happen as conjunctive concatenations and also as
connective concatenations. Human beings conjoin
thanks to their ability to linguistically and sensuously
interact. The phenomenon of linguistic communication has been widely studied by scholars, and we
know that the media can modifY and enrich it, but
also impoverish it.
There is another level of the concatenation, sensibili ty, which sh ould be better understood.
Sensibility is the ability of the human being to
communicate what cannot be said with words.
Being available to conjunction, the social organism
is open to affections, sensuous comprehension,
and social solidari ty. C ultural flows-music and
poetry, as well as psychotropic substances-can
favor, or obstruct and pollute, conjunctive ability.
Sensibility is also the faculty that allows us to
enter into relation with entities not composed of
our matter, not speaking our language, and not
reducible to the communication of discreet, verbal,
or digital signs.
Sensibility is the ability to harmonize with the
Principles of connection and heterogeneity: any
point of a rhizome can be connected to anything
other, and must be. [... ] Collective assemblages of
enunciation function directly wirhin machinic

T~e Ge~eral

lnte :e.::tls L00'<'19

to a Boo; /


assemblages; it is not impossible to make a radical

break between regimes of signs and their objects.
[... ) The orchid deterritorializes by forming an
image, a tracing of a wasp; but the wasp reterritorializes on rhat image. The wasp is nevertheless
dererritorialized, becoming a piece in the orchid's
reproductive apparatus. But it reterritorializes the
orchid by transporting irs pollen. Wasp and
orchid, as heterogeneous elements, form a rhizome. (Deleuze and G uattari 1987, 7- 10)

of intensities pushing the deterritorialization ever

further. There is neither imitation nor resemblance, only an exploding of two heterogeneous
series on the line of flight composed by a common
rhizome that can no longer be attributed to or
subjugated by anything signifying. Remy
Chauvin expresses it well: "the apamllel evolution
of two beings that have absolutely nothing to do
with each other." (Deleuze and Guattari 1987, 10)

On the ontological, teleological , or even the
physical plane, the wasp and the orchid are not
homogeneous. They even belong to rwo different
natural realms. But this does not prevent them
from working together in the sense of becoming a
concatenation (s'agencer), and in so doing generating
something that was not there before. "Be, Be, Be!"
is the metaphysical scream that dominates hierarchical thought. Rhizomatic thought replies:
"Concatenate, C oncatenate, Concatenate!"
The principle of becoming lies in conjunctive
... a becoming-wasp of the orchid and a becomingorchid of the wasp. Each of these becomings
brings about the dererritorializarion of one term
and the reterrirorialization of the other; the two
becomings interlink and form relays in a circulation

122 I Tha Ucrisw.g: On Poelr>' and F1nance

Conjunction and connection are rwo different

modalities of social concatenation. Whilst conjunction means becoming-other, living, and the
unpredictable concatenation of bodies, connection
means the functional interoperability of organisms
previously reduced to compatible linguistic units.
The spreading of the connective modality in
social life (the nerwork) creates the condition of an
anthropological shift that we cannot yet fully understand. This shift involves a mutation of the conscious
organism: in order to make the conscious organism
compatible with the connective machine, its cognitive system has to be reformatted. Conscious and
sensitive organisms are thus being subjected to a
process of mutation that involves the faculties of
attention, processing, decision, and expression. Infoflows have to be accelerated, and connective capacity

TI1e General Intellect Is Looking for a Bod:! 1 123

has to be empowered, in order to comply with the

recombinant technology of the global net.
In order to understand the present anthropological shift, we should focus on the meaning of
conjunction and connection.
C onjunction is a becoming-other. In contrast,
with connection each element remains distinct and
interacts only functionally. Singularities change
when they conjoin, they become something other
than what they were before their conjunction.
Love changes the lover and the combination of
asignifying signs gives rise to the emergence of a
previously nonexistent meaning.
Rather than a fusion of segments, connection
entails a simple effect of machinic functionality. T he
functionality of the materials that connect is implicit
in the connection as a functional modeling that prepares them for interfacing and interoperabUity. In
order for connection to be possible, segments must
be linguistically compatible. Connection requires a
prior process whereby the elements that need to connect are made compatible. Indeed, the digital web
extends through the progressive reduction of an
increasing number of elements to a format, a standard,
and a code that makes compatible different elements.
The process of change underway in our time is
centered on the shift from conjunction to connection as the paradigm of exchange between conscious
organisms. The leading factor of this change is the

124 I Tt1e Ur,."s'ng: On Poetry and F1nance

insertion of the electronic in the organic- the proliferation of artificial devices in the organic universe,
the body, communication, and society. But the
effect of this change is a transformation of the relationship between consciousness and sensibility, and
an increasing desensitization in the exchange of signs.
Conjunction is the meeting and fusion of
round and irregular shapes that are continuously
weaseling their way about without precision, repetition, or perfection. Connection is the punctual and
repeatable interaction of algorithmic functions,
straight lines, and points that overlap perfectly, and
plug in or out according to discrete modes of interaction that render the different parts compatible to a
preestablished standard. The shift from conjunction
to connection as the predominant mode of interaction of conscious organisms is a consequence of
the gradual digitalization of signs and the increasing
mediatization of relations.
The digitalization of communicative processes
induces a sort of desensitization to the curve, the
continuous process of gradual becoming; and a
sort of sensitization to the code, sudden changes of
state, and series of discrete signs.
Conjunction entails a semantic criterion of
interpretation. The other, who enters in conjunction
with you, sends signs whose meanings you must
interpret, by tracing if necessary the intention, the
context, the shade, the unsaid.

The General Intellect Is Lcc"'ng for a Bc(iy I 125

Connection requires a criterion of interpretation that is purely syntactic. The interpreter must
recognize a sequence and be able to carry out the
operation foreseen by the "general syntax" (or
operating system); there can be no margins for
ambiguity in the exchange of messages, nor can the
intention be manifest though nuances. The gradual
translation of semantic differences into syntactic
differences is the process that led from modern
scientific rationalism to cybernetics, and eventually
made the creation of a digital web possible.
But if you extend the syntactic method of interpretation to human beings, a cognitive and psychic
mutation is underway.
This mutation is actually producing painful
effects on the conscious organism, and these effects
can be interpreted with the categories of psychopathology: dyslexia, anxiety and apathy, panic and
depression. However, pathological description does
not grasp the deep meaning of the question. What is
more important, in fact, is the conscious organism's
attempt to adapt to a changing environment.
In order to efficiently interact with the connective
environment, the conscious and sensitive organism
starts to suppress to a certain degree what we call
sensibility. This is, in my opinion, the core of the
cognitive reformatting that is underway.
Sensibility-i.e., the ability to interpret and
understand what cannot be expressed in verbal or

126 I Tile Uprising: On Poetry and Finance

digital signs-can be useless and also dangerous in

an integrated system of connective nature.
Sensibility slows interpretation procedures, malcing
decodiflcation aleatory, ambiguous, and uncertain,
and thus reducing the competitive efficiency of the
semiotic agent.
The ethical dimension is involved in this
process: a sort of ethical insensibility seems to mark
the behavior of the humans of the last generation.
But if we want to understand the disturbance in the
ethical sphere, we should displace our attention
toward the aes thetic fleld. The ethical disorder,
the inability to ethically manage individual and
collective life, seem s to follow from a disturbance
of the aesthesia, the perception of the other and
of the self.
Composition and Recombination
When I say composition , I mean a form of
shared respiration: cospiration, conspiracy, growing together, conjoined expectations, coalescing
When I say recombination, I mean compatibility
and functional operativity.
When the relation between social components
(individuals) is predominantly recombinant, the
social organism stiffens and gets frail: solidari ty
becomes difficult.

The Ge'1erallnte'tect Is L:-okong for a B<Xi)' I 127

Social solidarity is not an ethical or ideological

value: it depends on the continuousness of the
relation between individuals in time and in space.
The material foundation of solidarity is the perception of the continuity of the body in the body,
and the immediate understanding of the consistency
of my interest and your interest.
The communist conspiracy, for instance, was
the psychic and cultural energy that made solidarity
possible inside the social body of the industrial
worker class, notwithstanding the authoritarian
reality of communist realizations.
Since the 1980s, precarity has provoked a process
of desolidarization and disaggregation of the social
composition of work. Virtualization has been a
complementary cause of desolidarization: precarization makes the social body frail at the level of
work, while virtualization makes the social body
frail at the level of affection.
Inside the precarious conditions of labor, collective breath is fragmented, submitted to the
accelerating rhythms of the virtual machine: the
fractal fragmentation of labor is parallel and
complementary to the fractalization of financial
capital. Financial capitalism is deterritorialized and
virtual, and acts as a constant recombination of
virtual fragments of abstract ownership.
Because of the introduction of the connective
principle in social communication, the ability to

128 I The UDns.-,g: On Pcshy and Fonan:e

sympathize weakens, and functional recombination

happens on impersonal ground.
Disempathy is the consequence of this
disharmonization of social communication. The
sexuality of the fractal body is exposed in the
form of panic, and desire is driven simultaneously in countless directions, in the frigid orgy
of pornography.
Rhythm and Refrain
Late-modern rhythm has been scanned by the
ordered noise of the machine. Rock and punk
music have inherited the knack for mechanical
rhythm, although in the end they turn this gift
into rage against the machine. In his book Sonic
Warfare: Sound, Affect, and the Ecology of Fear
(20 10) , Steve Goodman describes the rhythmic
aggression against social life:
From Hitler's use of the loudspeaker as a mechanism for affective mobilization during World War
II, through to Bin Laden's audio-taped messages,
the techniques of sonic warfare have now percolated into the everyday. (Goodman 2002, 5)

In order to describe the relation between the surrounding soundscape and the traces of singularity,
Guattari speaks of ritournelle, or refrain.

ll1e GE'r~erallntelect Is Lwking tc.r a Bxi;' I 129

A child singing in the night because it is afraid

of the dark seeks to regain control of events that
deterritorialized too quickly for her liking and
started to proliferate on the side of the cosmos
and the Imaginary. Every individual, every
group, every nation is thus "equipped" with a
basic range of incantatory refrains. (Guattari
20 11 , 107)
The refrain is an obsessive ritual that allows the
individual- the conscious organism in continuous
variation-to find identification points, and to
te rritorialize herself and to represent herself in
relation to the surrounding world. The refrain is
the modality of semiotization that allows an individual (a group, a people, a nation, a subculture, a
movement) to receive and project the world according to reproducible and communicable formats.
In order for the cosmic, social, and molecular
universe to be filtered through individual perception, semiotic filters must act, and we call them
The perception of time by a society is shaped by
social refrains.
From this perspective, universal time appears to
be no more than a hypothetical projection, a time
of generalized equivalence, a "flattened" capitalistic
time. (Guattari 1995, 16)

130 I T11e Upns,ng: On Poetry and Finance

T he m ain cultural transformation of modern capitalism has been the creation of refrains of temporal
perception that pervade and discipline society: the
refrain of factory work, the refrain of salary, the
refrain of the assembly line.
The digital transition has brought along with it
new refrains: electronic fragmentation, information
overload, acceleration of the semiotic exchange,
fractalization of time, competition.
The essential feature of refrain is rhythm, and
rhythm is a special configuration of the relation
between singular refrain and universal chaos.
Chaos is not the opposite of rhythm, but the
milieu of all milieus. T here is rhythm whenever
there is a transcoded passage from one milieu to
another, a communication of milieus, coordination
between heterogeneous space-times. (Deleuze
and Guattari 1987, 345)
Rhythm is the relation of a subjective flow of signs
(musical, poetic, gestual signs) with the environment:
the cosmic environment, earthly environment, social
Rhythm is everywhere in social life. Work,
war, rituals, and social movements each have their
special rhythm.
At the chaosmotic level, rhythm is the concatenation between breathing and the surrounding

The General intellect Is LcoJJng fer a Body / 131

universe. In Guattari's parlance, refrain is the only

way of creating this concatenation, this agencement
between singularity and environment.
At the social level, rhythm is the relation
between the body and the social concatenation of
The social environment is marked by refrains,
repetitions of gestures and signs that simultaneously
express the singular mode and the relation between
the agency and the environment.

not surprise us; we should not condemn these acts

as criminal. For too long has financial dictatorship
compressed the social body, and the cynicism of
the ruling class has become repugnant.
The uprising is a therapy for this ki nd of psychopathology.
The uprising is not a form of judgment, but a
form of healing.
And this healing is made possible by a mantra
that rises, stronger and stronger, as solidarity
resurfaces in daily life.
It is useless to preach a sermon to those who can
only express their revolt in a violent way. The
medic does not judge, but heals, and the task of
the movement is to act as a medic, no t as a judge.
What we should be able to communicate to the
rioters, the looters, the black bloc, and the casseurs
is a truth that we have to build together and to
spread: that a collective mantra chanted by millions
of people will tear down the walls of Jericho much
better than a pickaxe or a bomb.

The uprising agai nst financial capitalism that began
in the European countries in 20 11 can be seen as a
mantra, as an attempt to reactivate the conjunctive
body, as a form of therapy on the disempathetic
pathologies crossing the social skin and social soul.
Upheaval, uprising, insurrection, and dots:
these words should not be used in a militaristic sense.
The organization of violent actions by the anticapitalist movement would not be smart, as violence
is a pathological demonstration of impotence when
power is protected by armies of professional killers.
Nevertheless, we'll be witness to massive explosions
of precarious rage and violence, as in England in
August 2011, as in Rome on October 15th.
The uprising will frequently give way to phenomena of psychopathic violence. These should

132 I

n<e Upnsing: On Pc-et:y and F1nance

Tr.e General Intellect Is Lcoking ror il Bo-:11 1 133






Money and language have something in common:

they are nothing and they move everything. They are
nothing but symbols, conventions, flatus vocis, but
they have the power of persuading human beings to
act, to work, to transform physical things.
Money makes things happen. It is the source of
action in the world and perhaps the only power
we invest in. Perhaps in every other respect, in
every other value, bankruptcy has been declared,
giving money the power of some sacred deity,
demanding to be recognized. Economics no
longer persuades money to behave. Numbers
cannot make the beast lie down and be quiet or
sit up and do tricks. Thus, as we suspected all
along, economics falsely imitates science. At best,
economics is a neurosis of money, a symptom


concrived to hold the beast in abeyance [... ]

Thus economics shares the language of psychopathology, inflation, depression, lows and
heights, slumps and peaks, investmencs and losses, and the economy remains caught in manipulations of acting stimulated or depressed, drawing
attencion to itself, egotistically unaware of irs
own soul. Economists, brokers, accountants, financiers, all assisted by lawyers, are the priests of
the cuit of money, reciting their prayers to make
rhe power of money work without imagination.
(Sardello 1983, l -2)
Financial capitalism is based on the autonomization of the dynamics of money, but more deeply
on the autonomization of value production from
the physical interaction of things.
The passage from the industrial abstraction of
work to the digital abstraction of world implies an
immaterialization of the labor process.
Jean Baudrillard has proposed a general semiology of simulation based on the premise of the end
of referentiality, in the economic as well as in the
linguistic field. In The Mirror of Production,
Baudrillard writes: "need, use value, and the referent
'do not exist.' T hey are only concepts produced
and projected into a generic dimension by the
developmen t of the very system of exchange
value." (Baudrillard 1975, 30)

Poetry and F1nanca I 135

The process of the auronomization of money is

a particular level of this general trend, but it also
has a long history, according to Marc Shell in

Money, Language, and Thought.

Between rhe elecrrum money of ancient Lydia
and rhe electric money of contemporary
America there occurred a historically momentous change. The exchange value of the earliest
coins derived wholly from the material substance (elecrrum) of rhe ingots of which rhe
coins were made and nor from rhe inscriptions
stamped into these ingots. The even tual development of coins whose politically authorized
inscript ions were inadequate ro rhe weights and
purities of rhe ingots into which the inscriptions
were stamped precipitated awareness of quandries about the relationship between face value
(intellectual currency) and substantial value
(material currency). This difference between
inscription and thing grew greater with the
introduction of paper moneys. Paper, the marerial substance on which the inscriptions were
printed, was supposed to make no difference in
exchange, and metal or elecrrum, rhe material
substance to which the inscriptions referred, was
connected with those inscriptions in increasingly
abstract ways. With the advent of electronic
fund-transfers the link between inscription and

136 I The Upristng: On PoetJY and Ftnance

substance was broken. The matter of electric

money does not matter. (Shell 1982, I)

As I've already said, the dephysicalization of money

is part of the general process of abstraction which
is the all-encompassing tendency of capitalism.
Marx's theory of value is based on the concept
of abstract work: because it is the source and the
measure of value, work has to sever its relation
to the concrete usefulness of its activity and
product. Concrete usefulness does not matter
from the point of view of valorization.
Baudrillard speaks of the relation between signification and language in the same vein. The
abstraction process at the core of the capitalist
capture (subsumption) of work implies abstraction
from the need for the concreteness of products: the
referent is erased.
The rational, referential, historical and functional
machines of consciousness correspond ro indusuial
machines. The aleatory, nonreferential, rransferential, indeterminate and floating machines of
the unconscious respond to the aleatory machines
of the code[ ... ] The systemic strategy is merely ro
invoke a number of floating values in this hyperreality. This is true of the unconscious as it is of
money and theories. Value rules according to rhe
indiscernible order of generation by means of

Pcetry and Rn~nce I 137

models, according to the infin ite chains of simulation. (Baudrillard 1993, 3)

The structu ral dimension becomes autonomous

by excluding the referential dimension, and is
instituted upon the death of reference [... ] from

The crucial point of Baudrillard's critique is that

referentiality and the (in)determination ofvalue has
come to an end. In the sphere of the market, things
are not considered from the point of view of their
concrete usefulness, but from chat of their
exchangeability and exchange value. Sim ilarly, in
the sphere of communication, language is traded
and valued as something chat is performed.
Effectiveness, not truth value, is the rule of language in the sphere of communication. Pragmatics,
not hermeneutics, is the methodology for understanding social communication, particularly in the
age of new media.
Retracing the process of dereferentialization in
both semiotics and economics, Baudrillard speaks
of the emancipation of the sign.
A revolution has put an end to this "classical"
economics of value, a revolution of value itself,
which carries value beyond its commodity form
into its radical form .
This revolution consists in the dislocation of
the rwo aspects of the law of value, which were
thought to be coherent and eternally bound as if
by a natural law. Referential value is annihilated,
giving the stmctural play of value the upper hand.

138 1 rne Upr,

On Poetr; and Rnance

now on, signs are exchanged against each other

rather than against the real (it is not that they just
happen to be exchanged with each other, they do
so on condition that they are no longer exchanged
against the real). The emancipation of the sign.
(Baudrillard, 1993, 6-7)

The emancipation of the sign from the referential

function may be seen as the general trend of late
Modernity, the prevailing tendency in literature
and art as in science and in policies.
In the following pages I want to retrace the
evolution of poetry in the passage from romantic
realism to symbolist transrealism.
Symbolism opened a new space for poetic
praxis, starting from the emancipation of the word
from its referential task.
The emancipation of money-the financial
sign-from the industrial production of things
follows the same semiotic procedure, from referential
to nonreferen tial signification.
But the analogy between economy and language
should not mislead us: although m oney and language have something in common, their destinies do
not coincide, as language exceeds economic exchange.
Poetry is the language of nonexchangeability, the

PQt;iry ano Fonance


return of infinite hermeneutics, and the return of

rhe sensuous body of language.
I'm talking about poetry here as an excess of
language, a hidden resource which enables us to shift
from one paradigm to another.

Since 2001 we have witnessed a dismantling of

the general intellect that started after the dot-com
crash in the spring of 2000. During the first
decade of the new century, cognitive labor was disempowered and subjected to precarization.
The social and affective body of the cognitive
workers has been separated from their daily activity
of production. The new alienation is based on this
separation , on the virtualization of social relations.
The n ew alienation takes the form of psychic
suffering, panic, depression, and a suicidal tide.
T his is the affective character of the first generation of people who have learned more words fro m
a machine than from the mother.
T he insurrection against financial capitalism is
aimed to recompose the social and affective body.
T he student struggles that have exploded in Europe
since the fall of 20 10 should n ot be seen as sudden outbursts of rage, but as the beginnings of
a long-las ting process that will encompass the
next d ecade: a cognitaria n insurrection of sorts.
Insurrection means a rising up, and also implies the
full deployment of the potencies of the actor. The
actor that is appearing on the historical scene today
is the general intellect in its process of subjectivation.
The potencies of this actor are the potencies of
collective intelligence in the network, the potencies of
knowledge, reduced to the narrow dogmatic utilization that the capitalist economy is forcing on them.


Angel, if there were a place we do nor know, and there

On some ineffable carpet, the lovers, who never
Could achieve fulfillment here, could show
Their bold lofty figures of heart-swings,
Their towers of ecstasy, their pyramid
That long since, where there was no standing-ground,
Were cremblingly propped cogether-<:<>uld succeed
Before the spectators around them, the innumerable
silent dead:
Would not these then throw their last, ever-hoarded,
Ever-hidden, unknown to us, eternally
Valid coins of happiness
Before their pair with the finally genuine smile
On the assuaged carpet?
- Rainer Maria Rilke, "Fifth Elegy"
(Translated by C.E Macintyre)

The reactivation of the social body is the precondition for the full d eployment of th e general

140 1 The Upnsing: On Poetry and F1nance

.. .

Pcetry and F1nance I 141




The full deployment of the general intellect falls

beyond the sphere of capitalism.
When general intellect will be able to reconstitute its social and erotic body, capitalist rule will
become obsolete. This is the new consciousness that
comes from the explosion of the last months of2010,
from the reclamation of knowledge's autonomy.
In the same period of the student revolt, the
Wikileaks event has exposed the other face of
cognitarian subjectivation. What is its meaning,
beyond the remarkable effect that Wikileaks has
had in the field of diplomacy and politics and war,
and obviously in the field of information?
Wikileaks has displayed the infinite potency of
the collective networked intelligence. The unleashing
of the creative force of the general intellect is the
momentous event that Julian Assange has been
able to orchestrate. I don't think that we really
needed to know the contents of all those cables
and e-mails that Wikileaks disclosed. Actually, we
already knew that diplomats are paid to lie, and
that soldiers are paid for killing civilians.
Many interesting things have come out from
the disclosures, but this is not my focus here. What
is more important concerning this event is the activation of solidariry, compliciry, and independent
collaboration between cognitarians that it represents:
between programmers, hardware technicians,
journalists, and artists who all take part in an

142 /

n,e Upris:ng: On Poetry ancl Finance

informational process. T he activation of the potency

of this connected intelligence, autonomously from
its capitalist use, is the lesson Wikileaks has to
offer. And the new generation of rebels will find in
this lesson a way to the autonomization and selforganization of the general intellect.
In street demonstrations, the social and erotic
body of the cognitarians is finding rhythm and
empathy. The main stake of street actions is the
reactivation of the body of the general intellect.
Bodily sensibiliry, blurred and stressed by precariry
and competition, are finding new modes of expression, so that desire may begin flowing again.
Connection and Sensibility
Sensibiliry is the abiliry to understand what cannot
be verbalized, and it has been a victim of the precarization and fractalization of time. In order to
reactivate sensibiliry, art and therapy and political
action have to all be gathered.
In the sphere of precarious work, time has
been fragmented and depersonalized. Social time
is transformed into a sprawl of fractals, compatible
fragments that can be recombined by the networked
machine: this is why I speak of the fractalization
of time.
Aesthetic perception- here properly conceived
of as the realm of sensibiliry and aesthesia- is

Poetry and Fnance I 143

direcrly involved in the technological transformation of communication and work: in its attempt to
efficiently interface with the connective environment,
the conscious organism appears to increasingly
inhibit what we call sensibility. By sensibility, I
mean the facul ty that enables human beings to
interpret signs rhar are nor verbal nor can be made
so, the ability to understand what cannot be
expressed in forms that have a finite syntax. T his
faculty reveals itself to be useless and even damaging
in an integrated connective system, because sensibility tends to slow down the processes of interpretation, making them ambiguous and downgrading
the competitive efficiency of rhe semiotic agent.
Sensibility is in rime, and we need time to
understand the hypercomplex communication of
the body. Due to the acceleration of the inforhythm, precarious workers are obliged to detect
and interpret signs ar an ever-accelerating pace,
and their sensibility is disturbed. T his is why
therapy is increasingly involved in the political
field of reactivating the social body and recomposing
work in a process of subjecrivarion.
If we want to think through the relation
between art and {schizo) therapy, we have ro think
in terms of the refrain. Guattari says that rhe
refrain is a semiotic concatenation (agencement)
that is able to larch onto the environment. Cosmic,
terrestrial, social, and affective environ ments can

144 I Tile Unnsng. On PcetrJ ar.::l Finance

be grasped and internalized thanks to refrains

that we have in our minds, in our sensitive and
sensible brains.
In his book Chaosmosis, G uatrari speaks of rhe
"aesthetic paradigm." T his concept redefines rhe
historical and social perspective, and ir is fully
integrated into the vision of ecosophy. An environmental consciousness adequate ro the technological
complexity of hypermodernity, ecosophy is based
on the acknowledgment of the crucial role of
aesthetics in the prospect of ecology.
Actually, aesthetics is the science dedicated to
the study of the contact between the derma (the
skin, the sensitive surface of our body-mind) and
different chemical, physical, electromagnetic, electronic, and informational flows. Therefore, aesthetics
has much to do with the modern psychopathology
of contact, with the pathological effects of the
acceleration of the info-flow and the precarizarion
of social existence. Guattari views the universe as a
continuum of diverse and interrelated entities in
bodily contact with each other. It is both an organic
and inorganic continuum, animal and machinic,
mental and electronic, and the concatenation is
made possible by ritournelles, semiotic markers of
rhythm. Rhythm is the common substance of signs
(word, music, vision) and the brain. The mind hooks
onto the other (the other mind, nature, artificial, or
social world) thanks to rhythmic concatenation.

Poetry and F.nan:e I 145

In the past century, the century that trusted in

the future, art was essentially involved in the business of acceleration. Futurism defined the relation
between art, the social mind, and social life. The
cult of energy marked the artistic zeitgeist, up to
the saturation of collective perception and the
paralysis of empathy. Futurist rhythm was the
rhythm of info-acceleration, of violence and war.
Now we need refrains that disentangle singular
existence from the social game of competition and
productivity: refrains of psychic and sensitive
autonomization, refrains of the singularization and
sensibilization of breathing, once unchained from
the congested pace of the immaterial assembly line
of semio-capitalist production.
Once upon a time, pleasure was repressed by
power. Now it is advertised and promised, and
simultaneously postponed and deceived. This is
the pornographic feature of semio-production in
the sphere of the market.
T he eye has taken the central place of human
sensory life, but this ocular domination is a domination of merchandise, of promises that are never
fulfilled and always postponed. In the current
conditions of capitalist competition, acceleration
is the trigger for panic, and panic is the premise to
depression. Singularity is forgotten, erased, and
cancelled in the erotic domain of semio-capitalism.
T he singularity of the voice and the singularity of

words are subjected to the homogenization of

exchange and valorization.
Social communication is submitted to technolinguistic interfaces: in order to exchange meaning in
the sphere of connectivity, conscious organisms have
to adapt to the digital environment.
In order to accelerate the circulation of value,
meaning is reduced to information, and tech nolinguistic devices act as the communicative matrix.
The matrix takes the place of the mother in the
process of generating language.
But language and information do not overlap,
and language cannot be resolved in exchangeability.
In Ferdinand de Saussure's parlance, we may say
that the infinity of the parole exceeds the recombinant logic of the langue, such that language can
escape from th e matrix and reinvent a social sphere
of singular vibrations intermingling and projecting
a new space for sharing, producing, and living.
Poetry opens the doors of perception to singularity.
Poetry is language's excess: poetry is what in
language cannot be reduced to information, and is
not exchangeable, but gives way to a new common
ground of understanding, of shared meaning: the
creation of a new world.
Poetry is a singular vibration of the voice. This
vibration can create resonances, and resonances
may produce common space, the place where:

Poehy ana Ftnance I 14 7

146 1 The Upris,ng: On Poetry and Ftnance




. ~.


lovers, who never

Could achieve fulfillment here, could show
Their bold lofty figures of heart-swings,
Their towers of ecstasy.

But tell me, who are these vagrants, these even a little
More transitory than we, these from the start
Violently wrung (and for whose sake?)
By a never-appeasable will? But it wrings them,
Bends them, slings them and swings them,
Throws them and catches them; as if from an oily,
More slippery air they come down
On the carpet worn thinner by their eternal leaping,
This carpet lost in the universe.
Stuck there like a plaster, as if the sky
Of the suburb had hurt the earth.
-Rilke: "Fifth Elegy," verses 1- 11

These verses can be read simultaneously as a

metaphor for the condition of precarity, and as an
annunciation of a place that we don't know, that
we have never experienced: a place of the city, a
square, a street, an apartment where suddenly
lovers, who here (in the kingdom of valorization
and exchange) never "could achieve fulfillment,"
toss their last ever-hoarded, ever hidden, unknownto us-eternally valid coins of happiness.

148 1 The Upis ng: On Poetry a'ld Finat1::e

There is no secret meaning in these words, but

we can read in these verses a description of the frail
architectures of collective happiness: "Their towers
of ecstasy, their pyramid that long since, where there
was no standing-ground were tremblingly propped
This place we don't know is the place we are
looking for, in a social environment that has been
impoverished by social precariousness, in a landscape that has been deserted. It is the place that
will be able to warm the sensible sphere that has
been deprived of the joy of singularity. It is the
place of occupation, where movements are gathering:
Tahrir square in Cairo, Plaza do Sol in Madrid,
and Zuccotti Park in New York City.
We call poetry the semiotic concatenation that
exceeds the sphere of exchange and the codified
correspondence of the signifier and signified; it
is the semiotic concatenation that creates new
pathways of signification and opens the way to a
reactivation of the relation between sensibility and
time, as sensibility is the faculty that makes possible
the singularity of the enunciation and the singularity
of the understanding of a noncodified enunciation.
Viktor Shklovsky, the Russian formalist theorist,
says that the specificity of literary language lies in the
ability to treat words according to an unrepeatable
singular procedure, that in Russian he calls priem:
an artificial treatment of verbal matter generating

Poetry and F1Pance / 149

effects of meaning never seen and codified before.

Poetical procedure is a form of enstrangement
(ostranenie, in Russian) that carries the word far
and away from its common use.
"Art is not chaos," say Deleuze and G uattari in
What Is Philosophy?, "bur a composition of chaos
that yields the vision or sensation, so that it constitutes, as Joyce says, a chaosmos" (Deleuze and
Guarrari 1994, 204-205) . T he relation between
the organism and the environment is disturbed by
the acceleration of info-stimula in the infosphere,
by semiotic inflation, and by the saturation of
attention and the conscious sensitive sphere of
subjectivity. Art is recording and detecting this
dissonance, as it simultaneously creates the aesthetic conditions for the perception and expression of new modes of becoming.
Relative to schizoanalysis, art is acting differently in two ways: it represents a diagnostic of the
infospheric pollution of the psychosphere, but
also a therapy treating the disturbed organism.
The refrain is the sensitive niche where we can
create cosmos elaborating chaos.
Social movements can be described as a form of
refrain: movements are the refrain of singularization, as they act to create spheres of singularity at
the aesthetic and existential levels.
In the process of singularization that the movement makes possible, production, need, and con-

150 1 The Uprosng: On Poetry and F1nar.ce

sumption can be semiotized again, according to a

new system of world expectations.
Changing the order of expectations is one of the
main social transformations that a movement can
produce: this change implies a cultural transformation but also a change in sensitivity, in the opening
of the organism to the world and to the others.
Insurrection is a refrain helping to withdraw the
psychic energies of society from the standardized
rhythm of compulsory competition-consumerism,
and helping to create an autonomous collective
sphere. Poetry is the language of the m ovement as
it tries to deploy a new refrain.
The Limits of the World
In the chapter of Chaosmosis that is dedicated to the
aesthetic paradigm, G uarrari speaks of the new
modes of the submission and standardization ofsubjecti~ity produced by network technologies and by
neol1beral globalization. Simultaneously, he tries to
flnd new pathways to autonomous subjectivation.
As far as concerns the fl rst side of rhe problem,
he writes:
Subjectivity is standardized thro ugh a communication wh ich evacuates as m uch as possible
trans-semiotic and am odal en unciative compositions. Thus it slips towards the p rogressive

Poetry a 0 Finar.c'"


effacement of polysemy, prosody, gesture, mimicry

and posture, to the profit of a language rigorously
subjected to scriptural machines and their mass
meclia avatars. In its extreme contemporary forms
it amounts to an exchange of information tokens
calculable as bits and reproducible on computers.
In this type of deterritorialised assemblage, the
capitalist Signifier, a simulacrum of the imaginary of power, has the job of overcoding all the
other Universes of value. (Guattari 1995, 104-5)

Digital technology is canceling the singular enunciative composition of polysemy, gesture, and
voice, and tends to produce a language that is
subj ected to the linguistic machinery. While analyzing the standardization of language, Guattari
simultaneously looks for a line of escape from the
informational submission (assujettissement).
An initial chaosmic folding consists in making
the powers of chaos co-exist with those of the
highest complexity. It is by a continuous comingand-going at an infinite speed that the multiplicities
of entities differentiate into ontologically heterogeneous complexions and become chaotised in
abo lishing their figural diversity and by
homogenising themselves within the same beingnon-being. In a way, they never stop diving into
an umbilical chaotic zone where they lose their

extrinsic references and coordinates, but from

where they re-emerge invested with new charges
of complexity. It is during this chaosmic folding
that an interface is installed-an interface
between the sensible fi nitude of existential
Territories and the trans-sensible infinitude of
th e Universe of referen ce bound to them. Thus
one oscillates, on the one hand, between a finite
world of reduced speed, where limits always loom
up behind limits, constraints behind constraints,
systems of coordinates behind other systems of
coordinates, without eve r arriving at the ultimate
tangent of a being-matter which recedes everywhere and, on the other h and, Universes of infinite
speed where being can't be denied anymore, where
it gives itself in its intrinsic d ifferences, in its
heterogeneous qualities. The machine, every
species of machine, is always at the junction of
the finite and infinite, at this point of negotiation
between complexity and chaos. (Guanari 1995,

110- 111)

Guattari here questions the relation between the

finite and infinite in the sphere of language. H e
is mapping the territory of the informational rhizome, that was not yet completely discovered
when Chaosmosis was wri tten. T he ambiguity of
the info-rhizomatic terri tory is crystal clear:
info- technology is standardizing subjectivity and

152 1 The Upns,ng. On Peevy and Finance

Poetry and Finance I 153

: .. &

r. ~-

language, inscribing techno-linguistic interfaces

which automatize enunciation.
We are tracing here the dynamic of a disaster,
the disaster that capitalism is inserting into hypermodern subjectivity, the disaster of acceleration
and panic. But simultaneously we have to look for
a rhythm which may open a further landscap.e, a
landscape beyond panic and beyond the precanous
affects of loneliness and despair.
In the chapter on aesthetic paradigm in
Chaosmosis, Guattari rethinks the question of
singularity in terms of sensitive finitude and the
possible infinity of language.
T he conscious and sensitive orgamsm, the
living individuality walking towards extinction, is
finite. But the creation of possible universes of
meaning is infinite. Desire is the field of this
tendency of the finite towards a becoming-infinite.
To produce new infinities from a submersion in
sensible finitude, infinities not only charged with
virtuali ty but with potentialities actualisable in
given situations, circumventing or dissociating
oneself from the Universals itemised by traditional
arts, philosophy, and psychoanalysis [ .. .] a new
love of the unknown .. . (G uattari 1995, 161)

The finitude of the conscious and sensitive organism

is the place where we imagine pro jectio ns of

154 1 Tl1e Upris1ng: On Pc etr1 and Finan:;e

infinity which are not only virtual, but also a

potentiality of life, and that can be actualized in
We are on rhe threshold of a deterrirorialized and
rhizomaric world, realizing the anrioedipal, schizoform dream. Bur this dream is becoming true in the
form of a global nightmare of financial derealization.
On this threshold we have to imagine a politics and
an ethics of singularity, breaking our ties with expectations of infinite growth, infinte consumption, and
infinite expansion of the sel
I n the preface to his Tractatus Logico-Philosophicus, Wirrgenstein writes: "in order to draw a
limit to thinking we should have to be able ro
think both sides of this limit (we should therefore
have to be able to think what cannot be thought)."
(Wirrgensrein 1922, 27)
And he also writes:
The lim irs of my language mean the limits of my
world. Logic pervades the world: the limits of the
world are also its limits. So we cannot say in
logic, "The world has this in it, and this, bur nor
that." For that would appear ro presuppose that
we were excluding certain possibilities, and this
cannot be the case, since it would require that
logic should go beyond the limits of the world;
for only in that way could it view those limits
from the other side as well. We cannot think

Po'"try and F1nanr:e I 155

what we cannot think; so what we cannot think

we cannot say either. (Wittgenstein 1922, 68)

And finally, he writes: "The subject does not belong

to the world: rather, it is a limit of the world."
When W ittgenstein says that the limits of language are the limits of the world, he is saying
something that should be read in two different
ways. First, he is saying: what we cannot say we
cannot do, we cannot experience, we cannot live,
because only in the sphere of language can we
interact with the reality of Being. But he is also
saying that, because the world is what resides
within the limits of our language, what therefore
lies beyond the limits of language will only be able
to be lived and experienced once our language is
able to elaborate that sphere of Being that lies
beyond the present limit.
In fact, the philosopher writes: "the subject
does not belong to the world, rather it is a limit
of the world."
The potency and extension of language
depends on the consistency of the subject, on his
or her vision, on his or her situation. And the
extension of my world depends on the potency
of my language.
Guattari calls "chaosmosis" the process of going
beyond the limits of the world, and he calls this
going beyond resemiotization: i.e., a redefinition

156 / The Upnsu1g: On Poetry and F;nance

of the semiotic limit, which is also the limit of the

experimentability of the world.
Scientists call this effect of auropoietic morphogenesis "emergence": a new form emerges and
takes shape when logical linguistic conditions
make it possible to see it and to name it. Let's try
to understand our present situation from this
point of view.
Digital fin ancial cap italism has created a
closed reality which cannot be overcome with the
techniques of politics, of conscious organized
voluntary action, and of government.
Only an act of language can give us the ability
to see and to create a new human condition, where
we now only see barbarianism and violence.
Only an act of language escaping the technical
automatisms of financial capitalism will make
possible the emergence of a new life form. The new
form of life will be the social and instinctual body
of the general intellect, the social and instinctual
body that the general intellect is deprived of inside
the present conditions of financial dictatorship.
Only the reactivation of the body of the general
intellect- the organic, existen tial, historical finitude that embodies the potency of the general
intellect-will be able to imagine new infinities.
In the intersection of the finite and infinite, in the
point of negotiation between complexity and chaos,
it will be possible to generate a degree of complexity

Pcetry ano F.narce 1 157

greater than the degree of complexity that financial

capitalism is able to manage and elaborate.
Language has an infinite potency, but the exercise of language happens in finite conditions of
history and existence. Thanks to the establishment
of a limit, the world comes into existence as a
world of language. Grammar, logic, and ethics are
based on the institution of a limit. But infinity
remains unmeasurable.
Poetry is the reopening of the indefinite, the
ironic act of exceeding the established meaning
of words.
In every sphere of human action, grammar is
the establishment of limits defining a space of
communication. Today the economy is the universal
grammar traversing the different levels of human
activity. Language is defined and limited by its economic exchangeability: this effects a reduction of
language to information, an incorporation of technolinguistic automatisms into the social circulation
of language.
Nevertheless, while social communication is a
limited process, language is boundless: its potentiality is not limited to the limits of the signified.
Poetry is language's excess, the signifier disentangled
from the limits of the signified.
Irony, the ethical form of the excessive power of
language, is the infinite game that words play to
create and to skip and to shuffle meaning.

158 / Tn"' Up~151ng: 0:1 Poetry and Finance

~ social movement, at the end of the day, should

use Irony as semiotic insolvency, as a mechanism of
disentangling language, behavior, and action from
the limits of the symbolic debt.


Mass Zynismus
In his book The Courage of Truth, a transcription
of lectures delivered at the College de France in
1984, Michel Foucault speaks of Diogenes and the
other ancient philosophers known as cynics, and
defines their thought as a practice of telling the
truth (parrhesia). Twenty-five years later, the word
cynicism has acquired a totally different meaning,
almost the opposite: the cynic is someone who
routinely lies to everyone, especially to him or herself. An intimate lie, the contradiction between
speech and belief, lies at the core of contemporary
cynicism. Still, there remains a kind of consistency
between the ancient notion of cynicism-rigorous
truthfulness, individualism, ascetic behavior, and
disdain for power-and our own, which consists
largely of lip service, moral unreliability, and
conformist subjugation to those in power. This
consistency lies in an awareness of the ambiguous
nature of language, and an ability to suspend the

Poetry ancl Finance 1 159

relation between language and reality, particularly

in the ethical sphere. Cynicism, therefore, is closely
related to irony. Both are rhetorical forms and
ethical stances that require the suspension of the
relation between reality and lan guage. Some
German philosophers, like Paul Tillich and Peter
Sloterdijk, use two different words to distinguish
the ancient Greek cynicism discussed by Foucault
and our own: kynismus and zynismus.
Modern zynismus can be understood by recalling
Stanley Kubrick's 1999 film, Eyes Wide Shut, an
artistic gravestone to the modern illusion of progressive Enlightenment. Bill and Alice, a happily
married couple (Fridolin and Albertine in Arthur
Schnitzler's novel Dream Story [ 1926], which
inspired Kubrick's screenplay) are expressions of
an awareness that truth can never be spoken
because the social game is based on the power of
lies. If you don't accept the language of deceit, no
one will listen to you. This is where Kubrick's survey of the twentieth century arrives. It began with
Dax: the upright colonel played by Kirk Douglas,
who fights the cowardice of military power in
Paths of Gl01y (19 57). Dax believes in eth ical
righteousness. He has the strength and courage to
oppose evil because he thinks that evil can be
stopped and defeated.
Bill Harford (played by Tom Cruise) in Eyes
Wide Shut is still able to recognize misdeeds and

160 1

n.e Uprisng: On Poetry ana Fi11anc:

distinguish righ t from wrong, but he knows that

nothing can be done to stop and defeat evil.
Despite moral unhappiness, he must bend to evil
if he wants to survive.
At the end of a century that believed in the
future, zynismus seems to be the only accepted
language, the only cool behavior. "Cool" is a keyword
in contemporary cynicism . Andre G lucksmann, in
his 198 1 book Cynicism and Passion, suggests that
the only alternative to cynicism is passion, but
that's wrong.
T he real alternative to cynicism is not passion,
but irony.
In Critique of Cynical Reason, Peter Sloterdijk
argues that cynicism is the prevailing mindset
throughout the post-'68 era. To Sloterdijk, cynicism
doesn't denote an exceptional social character: it
is the typical state of mind. As he describes the
ancient notion of cynicism, "It violates normal
usage to describe cynicism as a universal and
diffuse phenomenon; as it is commonly conceived, cynicism is not diffuse but striking, not
universal but peripheral and highly individual."
(Sioterdijk 1988, 4) And this is the most important difference between kynismus and zynismus:
while D iogenes and his fellow kynicists were
ascetic individualists rejecting the acquiescence to
the law of the powerful, the modern zynicists are
the conformist majority, fully aware that the law

of the powerful is bad, but bending to it because
there's nothing else to do. Unlike the ancient
cynism, modern zynismus is not disruptive. It is
an internalization of the impotence of truth. As
Sloterdijk writes:
... [T]his is the essential point in modern cynicism, the ability of its bearers to work, in spite of
anything that might happen, and especially, after
anything that might happen .. . cynics are not
dumb, and every now and then they certainly see
the nothingness to which everything leads. Their
psychic (seelish) apparatus has become elastic
enough to incorporate as a survival factor a permanent doubt about their own activities. They
know what they are doing, but they do it
because, in the short run, the force of circumstances and the instinct for self-preservation are
speaking the same lan guage; and they are telling
them that it has to be so. (Sioterdijk 1988, 5)

Contemporary mass cynicism can be linked to two

different sources: the failure of twentieth-century
utopian ideologies, and the perception that the
exploitation of labor, competition, and war are
inevitable and irreversible. Mass cynicism results
from the dissolution of social solidarity. Globalization and the systemic precariousness of the labor
market resulting from neoliberal deregulation have

162 I Tile Upnsng: On Poetry and F1nance

imposed competition as the inescapable, generalized

mode of relation among social actors. Workers, once
linked by a sense of social solidarity and common
political hope, are now forced to think in cynical
terms: survival of the fittest.
Within the '68 movement, different cultures
and political tendencies coexisted. Some dreamed
of the historical Aujhebung: the institution of a
proletarian dictatorship, who would seize power in
their own hands. Like Hegelians, the doctrinaire
M arxists dreamed of a triumph of reason in which
the good guys were destined to win. To remain
with the proletariat was to be on the winning side
of history. When the wind turned and the workers'
movement was defeated, neoliberalism provided
an ideology for a new wave of capitalist aggressivity.
Those who wished to remain on the winning side
of history decided to stay with the winners because
all that is real is rational, in the end! In their dialectical scheme, whoever wins is right, and whoever is
right is destined to win.
The majority '68-era activists were not orthodox dialecticians and did not expect any
Aujhebung. We never believed in the end of historical complexity and the final establishment of
the perfect form of communism. This sounded
false to students and yo ung workers, who were
seeking autonomy in the present, not communism
in the future.

Poetry and F,nance I 163

Today's neoliberal conformists are the perverted

heirs of'68. Those who came to power after '89 in
Russia, the US, and Europe are not as free from
ideology as they pretend. Their ideology is a
dogmatic faith in the unquestionability of the
economy. The economy has taken the place of the
all-encompassing Hegelian Dialectic of Reason.
Bending to the dominant power, neoliberals accept
(economic) necessity. The only difficulty is that no
one knows which trends will achieve domi nance in
the complicated becoming of future events.
Consequently, cynicism-despite its apparent
inevitability- is weak, as a position. No one
knows what will happen next. Unpredictable
events cannot be reduced to logical necessity.
Irony and Zynismus
Sloterdijk is not alone in his conflation of mass
cynicism and irony. As h e writes in Critique:
"From the very bottom, from the declassed urban
intelligentsia, and from the very top, from the
summits of statesmanly consciousness, signals
penetrate serious thinking, signals that provide
evidence of a radical, ironic treatment (Ironizimmg)
of ethics and of social conventions, as if universal
laws existed only for the stupid, while the fatally
clever smile plays on the lips of those in the know."
(Siorerdijk 1988, 4)

164 I Tne Upnsu1g: On Pvetry e.nd Ftnar.ce

. Of course irony-like sarcasm, its more aggresSive form-can be an expression of cynicism. But
irony and cynicism should not be conflated. Irony
can be a linguistic tool for rationalizing cynical
behavior. Both irony and cynicism imply a dissociation of language and behavior from consciousness:
what you say is not what you think. But this dissociation takes different turns in irony and cynicism.
Vladimir Jankelevitch defines cynicism in the
following way in his book Irony: "(C]ynicism is
often deceived moralism, and an extreme form of
irony .. . " Gankelevitch 1936, 23) Cynicism, he
implies, is a learned form of irony, used for the
pleasure of shocking the philistines.
Cynicism is the philosophy of exaggeration
(surenchere): as Jankelevitch writes, "irony after
Socrates tends to be exaggeration of moral radicalism .. . " Cynicism is deceived moralism, a judgm ent of behavior that depends on a fixed system
of (moral) values. Dialectical materialism, the
philosophy of the past century, implied a form of
moralism: anything (progress, socialism, etc.) that
moves in the direction of history is good, whatever
opposes the movement of history is bad. Post-'68
cynicism results from a painful awakening. Since
the truth has not been fulfilled, we'll align ourselves with the untruth. And this is where irony
and cynicism differ. Ironic discourse never presupposes the existence of a truth that will be fulfilled

Poetry and Ftnance / 165

or realized. Irony implies the infinite process of

interpretation, whereas cynicism results from a
(lost) faith. The cynic has lost his or her faith; the
ironist never had a faith to begin. In Jankelevitch's
words: "[I]rony is never disenchanted for the good
reason that irony has refused to be enchanted ."
(Jankelevitch 1936, 24)
And yet, irony and cynicism both start with a
suspension of disbelief in both the moral content of
truth, and morality's true content. Both cynics and
ironists understand that the True and the Good do
not exist in God's mind or in History, and that
human behavior isn't based upon respect for any
law. In Masochism: Coldness and Cruelty, Deleuze
says this of irony and the law: "Irony is still in the
process or movement which bypasses the law as a
merely secondary power and aims at transcending it
toward a higher principle." (Deleuze 1989, 86)
Neither irony nor cynicism believe in the true
foundation of law. But the cynical person bends
to the law while mocking its false and pretentious values, while the ironic person escapes the
law altogether, creating a linguistic space where
law has no effectiveness. The cynic wants to be on
the side of power, even though he doesn't believe in
its righteousness. T he ironist simply refuses the
game, recreating the world on the basis of language
that is incongruent with reality. Whereas mass
cynicism (zynismus) has to do with aggression, both

166 / The Upris1ng: On P0Bt1y and F1nance

suffered and inflicted, irony is based upon sympathy.

While cynical behavior pivots upon a false relation
with interlocutors, irony involves a shared suspension of reality. The use of irony implies a shared
sense of assumptions and implications between
oneself and one's listeners. Irony cannot be conflated
with lying. As Jankelevitch writes:
Lying is a state of war, and irony is a state of
peace. T he liar is not in agreement with the
cheated. The gullible consciousness is late in relation with the lying consciousness, which is trying to
maintain its advantage. Irony, instead, is crediting
the interlocutor of sagacity and treats him/her as
a true parrner of true d ialogue. Irony incites
intellection, and is calling a fraternal echo of
understanding. Oankelevitch 1936, 24)

The conflation between power and the incessant

movement of historical events toward the good
that defined Marxist thought was sundered. Here
the fork between irony and cynicism opens.
Irony suspends the semantic value of the signifier to freely choose among a thousand possible
interpretations. Ironic interpretations of events
presuppose a common understanding between
speakers and listeners; a sympathy among those
who, engaged in the iron ic act, arrive at a common
autonomy fro m the dictatorship of the signified.

Poetry and Finance I 167


inescapable realicy of power, particularly the power

of the economy.

In the '70s, while reading Deleuze and Guattari,

the consciousness of the autonomous movement
discovered that reality has no meaning: the meaning
of reality has to be created by the movement itself.
So the autonomous movement broke free of the
idea that the ethical horizon is marked by historical
necessity, and opened its mind to the ironic mood,
which means singularization of ethical responsibility
and political choice. In this (postdialectical) space of
moral indetermination, both linguistic enunciation
and political action are devoid of any ontological
The will of power and research of the good,
which were linked in the framework of historical
ideology, are now diverging. Here the fork of irony
and cynicism opens.
Irony suspends the semantic value of the signifier and chooses freely among a thousand possible
interpretations. The ironic interpretation implies and
presupposes a common ground of understanding
among the interlocutors, a sympathy among those
who are involved in the ironic act, and a common
autonomy from the dictatorship of the signified.
Cynicism starts from the same suspension, but
is a slavish modulation of irony: irony at the service
of power. While irony does not postulate the
existence of any reality, cynicism postulates the

Irony is an opening of a game of infinite possibilities; cynicism is a dissociation of ethics and

possibilicy. The cynical mood starts from the idea
that ethical action has no possibilicy of succeeding.
The ironist sleeps happily because nothing can
awake her from her dreams. The cynicist sleeps a
light sleep, he dreams nightmares, and he gets up
as soon as power calls him.

168 1 The Uprising: On Pcetry and Finance

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